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How Will China FTA with S.Korea and Australia Affect Zinc Market?
Dec 22, 2015 11:25Source:SMM
China's free trade agreements (FTAs) with South Korea and Australia officially came into force on December 20, which lowers China’s tariffs on goods imported from the two countries.
SHANGHAI, Dec. 22 (SMM) - China's free trade agreements (FTAs) with South Korea and Australia officially came into force on December 20, which lowers China’s tariffs on goods imported from the two countries. A second tariff cut will take effect on January 1, 2016.
The cut in import tariff will incentivize inflows of imported zinc and zinc products, SMM says. South Korea and Australia are the top refined zinc supplying countries to China, which represent about 30-40% of total zinc imports in China.
“China’s import tariff on zinc from the two countries is cut to zero, and this will reduce import cost and in turn result in larger inflows of imported zinc,” said an SMM zinc analyst. “China’s zinc imports should thus grow in 2016.”
According to the agreements, South Korea will implement a 0% tariff on 92% of imported goods from China in twenty years, and China is also expected to execute a 0% tariff on 91% of imported goods from South Korea. Australia will reduce tariff for imported goods from China to 0% in five years, and China will also implement 0% tariff on 96.8% of goods from Australia in 15 years.
Agreed Tariff on Imported Goods from South Korea and Australia, 2015-2016
HS Code | Commodity | % | Current provisional tariff | Agreed Tariff in 2015 | Agreed Tariff in 2016 | ||
South Korea | Australia | South Korea | Australia | ||||
26080000 | Zinc ore&concentrate | 0 | 0 | 0 | 0 | 0 | 0 |
26201100 | Hard zinc-contained ash&slag | 4 | 4 | 0 | 0 | 0 | 0 |
26201900 | Other zinc-contained ash&slag | 4 | 4 | 0 | 0 | 0 | 0 |
28170010 | Zinc oxide | 5.5 | / | 4.4 | 0 | 3.3 | 0 |
28170090 | Zinc peroxide | 5.5 | / | 4.4 | 0 | 3.3 | 0 |
28332930 | Zinc sulfate | 5.5 | / | 4.9 | 0 | 4.4 | 0 |
32064210 | Lithopone | 6.5 | / | 5.2 | 5.2 | 3.9 | 3.9 |
72103000 | Galvanized iron or non-alloy wide steel plate | 8 | / | 6.4 | 4.8 | ||
72104100 | Galvanized corrugated iron or wide non-alloy steel plate | 8 | / | 6.4 | 6.4 | 4.8 | 4.8 |
72106100 |
Wide Al-Zn coated iron slab | 8 | / | 6.4 | 4.8 | ||
72122000 | Galvanized iron or narrow non-alloy steel plate | 8 | / | 7.4 | 6.4 | 6.9 | 4.8 |
72123000 | Other narrow galvanized plate | 8 | / | 7.2 | 6.4 | 6.4 | 4.8 |
72172000 | Galvanized or Zn-coated iron or non-alloy steel | 8 | / | 7.2 | 6.4 | 6.4 | 4.8 |
72259100 | Other wide galvanized alloy steel slab | 7 | / | 6.5 | 5.6 | 5.6 | 4.2 |
72259200 | Other galvanized or Zn-coated alloy steel slab | 7 | / | 6.5 | 5.6 | 5.6 | 4.2 |
72269910 | Other narrow galvanized alloy steel slab | 7 | / | 6.3 | 5.6 | 5.6 | 4.2 |
72269920 | Other narrow galvanized or Zn-coated alloy steel slab | 7 | / | 6.3 | 5.6 | 5.6 | 4.2 |
74032100 | Unwrought Cu-Zn alloy (brass) | 1 | / | 0 | 0 | 0 | 0 |
74061030 | Non-flake copper powder made from Cu-Zn alloy(brass) | 6 | / | 5.4 | 4.8 | 4.8 | 3.6 |
74072111 | Cu-Zn alloy rod/bar (straightness≤0.5mm/m) | 7 | / | 5.6 | 4.2 | ||
74112190 | Cu-Zn alloy (brass) tube/pipe | 7 | / | 6.5 | 5.6 | 6 | 4.2 |
79011110 | Unwrought zinc(Zn≥99.995%) | 3 | 1 | 0 | 0 | 0 | 0 |
79011190 | Unwrought zinc(99.99%≤Zn≤99.995%) | 3 | 1 | 0 | 0 | 0 | 0 |
79011200 | Unwrought zinc(Zn＜99.99%) | 3 | 1 | 2.4 | 0 | 1.8 | 0 |
79012000 | Unwrought zinc alloy | 3 | 1 | 0 | 0 | 0 | 0 |
79020000 | Zinc scrap | 1.5 | 1 | 0 | 0 | 0 | 0 |
79031000 | Zinc dust | 6 | / | 5.4 | 4.8 | 4.8 | 3.6 |
79039000 | Zinc powder&flaky powder | 6 | / | 5.4 | 4.8 | 4.8 | 3.6 |
79040000 | Zinc&zinc alloy bar,rod,extrusion,wire | 6 | / | 5.6 | 4.8 | 5.2 | 3.6 |
79050000 | Zinc plate,slice,plate/sheet,foil | 6 | / | 4.8 | 4.8 | 3.6 | 3.6 |
79070020 | Zinc tube/pipe&zinc tube/pipe parts | 6 | / | 4.8 | 4.8 | 3.6 | 3.6 |
79070030 | Battery shell billet (zinc cake) | 6 | / | 4.8 | 4.8 | 3.6 | 3.6 |
85061011 | Button alkaline zinc-manganese battery | 20 | / | 19 | 16 | 18 | 12 |
Note: Provisional tariff is used prior to most favored nation tariff (as the case may be); goods with agreed tariff, most favored nation tariff and provisional tariff apply that whichever is lowest.
Source: MoF, edited by SMM
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
free trade agreements
import tariff
China import tariff
China zinc imports
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