Adjustment of 2008 Interim Customs Tax Rates-Shanghai Metals Market

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Adjustment of 2008 Interim Customs Tax Rates

Data Analysis 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI Dec. 28 (CBI China)--The Customs Tariff Commission of the State Council examined and passed the New Customs Tariffs for 2008, effective 1 January 2008.

    Important Adjustment on Copper Products

    Import Tariff:
1. Refined copper cathodes, refined copper cathodes profiles, unrefined copper, and copper anodes will fall to 0% from the present 2%.
2. The present 1.5% import tax rate on scrap copper will also be eliminated. 

    The most significant act of the adjustment is to remove import taxes on refined copper regardless of origin (the current import tax rate is 0% on refined copper from Chile, but 2% for all others), reflecting China's intention to encourage imports of deficient resources and important raw materials.

    Export Tariff:
1. High-purity copper cathodes (copper content above 99.9935%) fall from 10% to 5%, but export tax rates on other copper cathodes will remain at 10%. 
2. Unwrought copper alloy will fall from 10% to 5%.
3. The 10% export tax rate on copper rods, profiles, plates, sheets, strips, and wires will be eliminated completely.

    Important Adjustment on Zinc and Lead Products

    Export Tariff:
1. Unwrought zinc with zinc content below 99.99%(2# zinc) will rise to 15%.
2. The export tax rate on unwrought refined lead will remain at 10%.

    Tariffs on 1# and 0# zinc were left unchanged although their export volumes of both products  are huge, so the adjustment of 2# zinc products will exert little influence on the market.  The greatest concern for market players is the export tax rebate for 0# zinc. 

    Negotiations over treatment charges for lead will likely begin again as the 2008 tariff for unwrought refined lead has now been determined.

    Important Adjustment on Aluminum Products

   Import Tariff:
The import tax rate on alumina will fall from 3% to 0%

    The adjustment of aluminum import rates reflects China's intentions to encourage importation of deficient resources and important raw materials while restricting export of energy-intensive, highly-pollutive, and resources-consuming products.

    Export Tariff:
1. The export tax rate for bauxite will rise from 10% to15%.
2. H.S. codes of aluminum rods will be specified, and their export tax rates will rise to 15%。

Adjustment of 2008 Interim Customs Tax Rates

Data Analysis 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI Dec. 28 (CBI China)--The Customs Tariff Commission of the State Council examined and passed the New Customs Tariffs for 2008, effective 1 January 2008.

    Important Adjustment on Copper Products

    Import Tariff:
1. Refined copper cathodes, refined copper cathodes profiles, unrefined copper, and copper anodes will fall to 0% from the present 2%.
2. The present 1.5% import tax rate on scrap copper will also be eliminated. 

    The most significant act of the adjustment is to remove import taxes on refined copper regardless of origin (the current import tax rate is 0% on refined copper from Chile, but 2% for all others), reflecting China's intention to encourage imports of deficient resources and important raw materials.

    Export Tariff:
1. High-purity copper cathodes (copper content above 99.9935%) fall from 10% to 5%, but export tax rates on other copper cathodes will remain at 10%. 
2. Unwrought copper alloy will fall from 10% to 5%.
3. The 10% export tax rate on copper rods, profiles, plates, sheets, strips, and wires will be eliminated completely.

    Important Adjustment on Zinc and Lead Products

    Export Tariff:
1. Unwrought zinc with zinc content below 99.99%(2# zinc) will rise to 15%.
2. The export tax rate on unwrought refined lead will remain at 10%.

    Tariffs on 1# and 0# zinc were left unchanged although their export volumes of both products  are huge, so the adjustment of 2# zinc products will exert little influence on the market.  The greatest concern for market players is the export tax rebate for 0# zinc. 

    Negotiations over treatment charges for lead will likely begin again as the 2008 tariff for unwrought refined lead has now been determined.

    Important Adjustment on Aluminum Products

   Import Tariff:
The import tax rate on alumina will fall from 3% to 0%

    The adjustment of aluminum import rates reflects China's intentions to encourage importation of deficient resources and important raw materials while restricting export of energy-intensive, highly-pollutive, and resources-consuming products.

    Export Tariff:
1. The export tax rate for bauxite will rise from 10% to15%.
2. H.S. codes of aluminum rods will be specified, and their export tax rates will rise to 15%。