Category: News
Steel Price Drops 15% & Tax Refund Increases
December 25, 2018
Because the Chinese government has vigorously cleared excess production capacity. Steel prices have been remaining at a very high level for the past 3 years. However, in November 2019, China’s steel price drops for the first time. Taking the cold-rolled steel used in our steel raised floor as an example, the price has dropped by about 15% so far. In the past 3 years, high price of Chinese steel has slowed downstream demand and exports. At the same time, under the stimulation of high profits, the continuous expansion of steel industry has also accelerated the decline in steel prices. In addition, since November, the Chinese government has increased the export tax rebate rate for all products. Moreover, the steel price drops. It is believed to have a positive impact on export-oriented companies.
USD Price Dropped 10% Due to Exchange Rate
August 3, 2018
Last 2 months, Chinese RMB rose rapidly against US Dollar. On July 1st, the exchange rate is still around 6.30. Before the deadline for publication, the exchange rate already exceed 6.85, which means our USD price drops around 10% since June. In 2018, prices of raw materials have grown rapidly in China’s total exports have fallen significantly. This exchange rate change is believed to have a positive impact on our exports.
Factories Close in A Large Area Cause Environmental Inspection
June 18, 2018
More and more stringent environmental inspection in China Environmental factors are playing big influence these days. Last week, inspection of environmental protection in Jiangsu province continued, except Xuzhou, Nanjing, and Changzhou, Zhangjiagang, the production in Wuxi, Suzhou and other regions has also been affected by environmental protection policies, and production has declined. Last week, steel prices continued to rise in China, especially for construction steel prices. The steel market has become increasingly dangerous. It needs to pay attention to risks and we can’t just chase them. Factories are facing unprecedented challenges As all our steel suppliers close last week for inspection, steel price had a sudden increase this week, rate can be 10%. The bigger problem is that we can not buy new steel, so now we can only supply our stock which is mainly the specification below FS1250. For details, pls contact our sales. For raised floor factories, more
Welcome to Domotex Shanghai
March 15, 2018
The annual DOMOTEX Asia /CHINAFLOOR will be held on 20th-22nd, March in Shanghai. Our booth number is E3H27, you are welcomed to visit us then. If you need help when you arrive in China, pls email us or call us directly : +86 13338807133
