Exports up on rebate talk

SHANGHAI: Market rumors that the government is about to scrap the export tax rebate are behind a recent steel export surge, analysts said yesterday.

The nation posted a record 7.68 million tons of steel exports for August, a sharp rise of 470,000 tons from July, and up 42.78 percent year-on-year, according to Customs figures.

China has exported 41.84 million tons of steel products worth $41.89 billion since January.