China issues steel product export tariff rates for 2016

Thursday, 10 December 2015 17:40:22 (GMT+3) | Shanghai

In its 2016 Export Products Tariff Rates issued on December 9, China’s Ministry of Finance has announced export tax rates for steel products for the coming year. The details are presented in the following table:

Sequence number	Duty paragraph	Trade name	Reference export tax rate in 2016 (%)	*Temporary tax rate in 2016 (%)	Export tax rate in 2015 (%)
119	72011000	Non-alloy pig iron, phosphorus content <= 0.5%	20		25
120	72011000	High-purity pig iron (Mn content < 0.08%, phosphorus content < 0.03%,S content < 0.02%,and Ti content < 0.03%)	20	10	25
121	72012000	Non-alloy pig iron, phosphorus content > 0.5%	20		25
122	72015000	Alloy pig iron	20		25
144	72061000	Iron and non-alloy steel ingot		20	25
145	72069000	Other iron and non-alloy steel in primary forms		20	25
146	72071100	Rectangular section semi-finished steel, width < 2 mm thickness, carbon content < 0.25%		20	25
147	72071200	Other rectangular section semi-finished steel, carbon content 0.25%		20	25
148	72071900	Other semi-finished steel with carbon content < 0.25%		20	25
149	72072000	Semi-finished steel with carbon content >= 0.25%		20	25

(*In 2016, the temporary rates will be implemented, while the reference rates, where given, will be implemented if the temporary rates are cancelled, unless a special announcement is made.)

Market participants surveyed said that the new export tariff rates may be considered as a signal that the Chinese government is encouraging semi-finished steel exports, which would ease the burden on the domestic market.