The amounts of steel exports out of Shandong Province plunged 30.3 percent from 415,000 tons in June to 289,000 tons in July, suggesting that the tax rebate policy effective from July 15 is starting to work. In the first seven months, Shandong exported 2.18 million tons of steel products valued $1.75 billion, up 1.5 times and 100 percent respectively from a year earlier.