China may trim, nix lead export tax

Dec 01, 2008 | 12:49 PM |

China is more likely to reduce or even cancel its refined lead export tax amid slumping domestic demand and weak auto sales, market sources said.

Once approved, the new policy might take effect Jan. 1, according to speculation in the market. China introduced a 10-percent export tax on the product on July 1, 2007.

"We have called for removals of the export tax for a long time, but failed to arouse much attention from the government," an industry source with good government connections said. "But our previous proposals were made at a time when lead prices were strong and auto industry remained blooming."....

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