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CSI: Chinese mills fight for VAT gains

CSI: Chinese mills fight for VAT gains (April 3, 2019)

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China is continuing to issue measures to ease the burden on corporations but it remains to be seen if this is enough to support growth. Steelmakers hope to capture margin from the latest cut to VAT, but they may have more success at home than for exports.

Mill profits meanwhile are under attack from surging iron ore prices.

The question now is, can Chinese mills defend their margins?

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