China adjusts export rebate on metals and steel products -- Correction

BEIJING (Asian Metal) 15 Sep 06 - By close of business yesterday, the Chinese government announced to adjust the current export rebate policies on
metals and steel products, which becomes effective on 15th Sep.

The export rebate rate will be completely removed for the following products: all nonmetallic minerals under Chapter 25 except salt and cement; coal and coke; silicon; arsenic and all non-ferrous metals and their scrap except base metals' semi-products.

Some non-ferrous metals' export rebate rate will reduce from current 13% to 5%, 8% and 11% accordingly.

Steel products' export rebate rate under 142 tariff numbers will be reduced from current 11% to 8%.

Tolling trade will be restricted for commodities whose export rebates were previouly cancelled. Moreover, extra import tax will be imposed on these commodities.Asian Metal Copyright Otherwise, new export rebate rate will be applied.Asian Metal Copyright

Commodities that were contracted before 14th Sep., registered in relevant governmental department before 30th Sep.Asian Metal Copyright Commodities that were contracted before 14th Sep.Asian Metal Copyright and applied to customs before 14th Dec.Asian Metal Copyright Otherwise, new export rebate rate will be applied.Asian Metal Copyright, will still enjoy current export rebate rate.Asian Metal CopyrightSome non-ferrous metals' export rebate rate will reduce from current 13% to 5%, 8% and 11% accordingly.Asian Metal Copyright Otherwise, new export rebate rate will be applied.