China might lift semis export tax another 5%

Dec 18, 2006 | 04:42 PM | Hongmei Li

The continuing rise in China's semi-finished steel exports has sparked new rumors that the government might increase taxes by 5 to 15 percent.

The Nov. 1 imposition of a 10-percent export tax on semi-finished steel has failed to stem the rise in exports, according to industry reports in China, making another rise possible.

Exports of semi-finished steel increased 550,000 tonnes, or more than 50-percent month-on-month, to 1.48 million tonnes in November, preliminary figures from the General Administration of Customs showed. Semi-finished exports in the first 11 months of 2006 hit 8.54 million tonnes, up 30.7 percent from a year earlier.....

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