On December 15, 2017, the Customs Tariff Commission of the State Council of China promulgated the “Treaty Adjustment Plan for 2018” to cancel the temporary tariffs on the export of bars, rebars and wires, and reduce the 200 series of hot-rolled stainless steel coils, steel ingots, billets and some ferroalloys. Temporary tariffs on product exports.

The provisional tariffs for the export of 200 series hot-rolled stainless steel coils, stainless steel ingots, alloy steel ingots, stainless steel billets and alloy billets are reduced from 10% to 5%; the temporary tariffs for the export of Pugang ingots and billet billets are reduced from 15% to 10%; The billet is reduced to 5% and 10% according to different purposes, including continuous casting round billet for wheels (diameter 380MM and 450MM, tolerance ±1.2%, carbon content: 0.38%-0.85%, manganese content: 0.68%-1.2%) , phosphorus content ≤ 0.012%, total oxide content ≤ 0.0012%) from 15% to 5%, other high carbon steel billets from 15% to 10%. Provisional tariffs on exports of ferrochrome, ferrotitanium and ferrotitanium, other ferrovanadium, ferroniobium and direct reduced iron and other sponge iron briquettes have been reduced from 15% to 10%.