China cuts, ends export tariffs on nonferrous metals to boost exports

Published: 23 Jun 2009 17:56:48 PST

Jun.23 MetalBiz--China will abolish export duties on industrial products and cut the duties for chemical fertilizers and nonferrous metals from July 1 to boost exports, the Ministry of Finance stated on June 22.

The Customs Tariff Commission of the State Council will eliminate the export tariffs for vitriol and steel wire.

Export duties for some nonferrous metals including molybdenum, tungsten and indium will be halved to 5%, the statement said.

The move follows several increases in export tax rebates to support overseas sales amid the global downturn. Since last August, China has increased export tax rebates seven times.