China cuts Steel billet export tax for 2017

CHINA December 27 2016 4:05 PM

Share

SHANGHAI (Scrap Register): China's Ministry of Finance (MOF) has reduced carbon steel billet export tax from 20 percent for the current year to 15 percent effective as of January 1, 2017.

The export tax in 2016 was 20%, and in 2015 it was 25%. The steel billets products fall under Chinese Customs Tariff Statistics Position Numbers 72061000, 72069000, 72071100, 72071200, 72071900 and 72072000.

According to Chinese Custom Data, China's steel bars imports advanced by 20 percent year-on-year to 110,000 metric tons during November, while angles/channels imports shot up by 68.1 percent year-on-year to 30,000 metric tons.

China steel plates imports advanced by 20.2 percent to 910,000 metric tons in November this year and steel pipes & hollow sections imports gained by 37 percent to 40,000 metric tons.