Newssummary: China’s Fujian to See 20% Annual Growth in Ferronickel Imports after New Tariff Policy

SHANGHAI, Jan. 9 (SMM) – Inbound shipments of ferronickel to Ningde in Fujian Province, China are expected to grow 20% annually after the implementation of new import tariff in 2015, local media reported. 

China announced to impose no tariff on ferronickel imports in 2015, changed from a 1% import duty in 2014.   

Cost pressures have been mounting since Indonesia introduced an export ban on its unprocessed ore, including nickel ore.

The zero tariff on ferronickel imports will reduce production costs at local stainless steel producers, to support the development of stainless steel industry in the region.

Ningde is one major city with the closest distance from Fujian to Yangtze River Delta. 

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