China plans to raise export duties on steel products, including
steel billets, long and strip products, and welded tubes, as of
Jan. 1, the China Securities Journal reported on
Wednesday.
The export tariffs increases would come amid increasing overseas
dumping charges against China's massive steel exports and as the
nation strived to cut energy consumption and pollutant
emissions.
The export tariff on steel billets would be raised to 25 percent
from the current 15 percent, the newspaper cited steel company
officials as saying.
The news came as the officials attended a forum held by the
Economic Operation Department of the National Development and
Reform Commission (NDRC) and the China Iron and Steel Association
(CISA) on Tuesday.
The government would also raise export duties on long and strip
steel products, and welded tubes to 15 percent from the current
level of zero to 10 percent, respectively, the unnamed officials
said.
China, the world's largest steel producer, scrapped its 13
percent export rebate on carbon steel welded tubes as of July 1,
amid other efforts to trim its rapidly expanding trade surplus.
The higher tariffs would reduce the nation's steel products
exports by 20 million tons in 2008, said Wu Xichun, a CISA
consultant.
China exported 57.86 million tons of steel products in the first
11 months, according to the General Administration of Customs.
The tariff increase would help to close more out-dated, small
steel plants as the government vowed to meet its target of reducing
energy consumption used to generate per unit of gross domestic
product by 20 percent. It also aimed to cut major pollutant
emissions by 10 percent between 2006 and 2010.
The local authorities have agreed to close out-dated steel mills
with a total production capacity of 77.86 million tons between 2006
and 2010, Xiong Bilin, the NDRC's Industry Department deputy
director, said earlier.
(Xinhua News Agency December 26, 2007)
