[Zn] Export Rebates for Select Zinc Products Lifted

SHANGHAI, June 8 (CBI China) -- Approved by State Council, the Ministry of Finance (MOF) decided to raise the export rebates for select products. Zinc products involved in the policy adjustments include: other flat-rolled galvanized alloy steel (the export rebate remain zero since April 2007, and now has been lifted to 9%); the export rebates of primary mercury-free alkaline Zn/MnO2 button cell and cells, the primary mercury-free cylindrical alkaline Zn/MnO2 battery and batteries, and other alkaline Zn/MnO2 battery and batteries were lifted to 15% from previous 14%. The circular is effective June 1st.

    CBI believes any impact from this adjustment in export rebates on galvanized alloy steel and Zn/MnO2 battery sector will be limited. Special attention was focused on the export orders related with the products. According to CBI statistics, the zinc consumption in battery sector in 2008 accounted for about 10% of China’s total zinc consumption, so the impact from export rebate hike on zinc market will be limited.

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