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China to continue its export tax on steel

Securities Times quoted Ministry of Finance as saying that China will further adjust its import and export taxes since January 1st 2010. . All those duties as most favored nation tariff, provisional export tax, conventional tariff, preferential tariff are involved.

As reported, the average tariff rate will stay at 9.8% after the adjustment. In the meantime, the country will continue its provisional export tax on semi finished steel and some other steel products.

The detailed export taxes are as follows:

1. Billet, 25%
2. HRC, -9%
3. HR plate, -9%
4. Rebar, 15%
5. Wire rod, 15%
6. HDG, -13%
7. CRC, -13%

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