Export tariffs may be imposed, and the futures market will drop significantly
:  : Jul 29,2021

According to market news, it may be announced this week that an additional export tariff of 15% or more will be imposed on some exported steel products (which may contain stainless steel), which will be implemented on August 1. Affected by this news, the related products of the Shanghai Futures Exchange all declined to varying degrees today, with the hot coil high of 80 yuan/ton, a drop of 1.32%; stainless steel dropped by nearly 600 yuan/ton from the intraday high, a drop of nearly 3%; Driven by the drop in stainless steel prices, the price of nickel in Shanghai also weakened to a certain extent. As of the close of trading at noon, the high level fell by 2800 yuan/ton, a drop of nearly 2%.