China to Cut Export Taxes on Steel Billet and Pig Iron from 2016

Published: Dec 10, 2015 15:13

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China announced to cut export taxes on steel billet and pig iron from Jan. 1 2016, the finance ministry said on Wednesday.

SHANGHAI, Dec. 10 (SMM) – China announced to cut export taxes on steel billet and pig iron from Jan. 1 2016, the finance ministry said on Wednesday.

The taxes on steel billet and pig iron will be cut to 20 percent and 10 percent respectively from 1 Jan. 2016, the ministry announced.

"The cut is not expected to significantly affect exports of Chinese steel products, as steel makers will look for ways to export goods at lower costs," SMM steel analyst says.

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