[Minor metal] South Korea to Raise Import Duty on Silicon Metal

SHANGHAI, June 23 (CBI China) -- South Korea will lift the import duty on silicon metal to 5% from 1% on July 1st.

    An exporter in Hunan said: “we receive the news that South Korea will raise import duty on silicon metal to 5%, and some customers require us to deliver goods before June 28th, which may be related to the tariff adjustment.”

    Another exporter in Fujian said it is believable that South Korea will lift the import duty, but no official news was released so far. Customers in South Korea said the official document will be available on Thursday. In addition, he reveals: “2.8% of preferential duties will likely be terminated temporarily due to sluggish market, but this news remained to be confirmed.”

    Several exporters confirmed with this news and said a large volume of inquiries from South Korea will become firm orders during this month, with delivery date by the end of this month.

    The exports of this portion of goods may ease domestic supply pressure in the short term, but the difficulties will increase for Chinese exporters to export silicon metal to South Korea after the tariff adjustment in the long run.

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040