China Mining News
The Tariff Commission of the State Council has announced tariff changes to some iron and steel products effective 1st May 2021. A temporary import tariff of “0” will be imposed on products such as pig iron, crude steel, recycled iron/steel raw materials, FeCr and other related products. However, export tariffs on FeSi, FeCr and high purity pig iron have been raised moderately, with a 25% export tariff on FeSi, a 20% temporary export tariff on FeCr and a 15% temporary export tariff on high purity pig iron and products.
These measures aim to reduce import costs, improve iron/steel imports, curb domestic crude steel output to reduce overall energy consumption in the iron/steel making industry and to facilitate the upgrade and high-quality development of the industry.
