China announces tariff rate on stainless steel ingots
As SteelOrbis reported on December 26, 2006, China is to impose a new tariff on stainless steel ingot exports. According to the latest announcement from China's Ministry of Finance, the rate of the tariff will be 10 percent. The tariff will not be valid for finished stainless steel products. Meanwhile, the Finance Ministry has also announced that the tax on nickel imports will be reduced from the current two percent to one percent effective from January 1, 2007, in order to support the stainless steel producers and preserve the resources in the country.
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