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China to raise export tariffs for some steel products from August 1

China will raise export tariffs for pig iron and ferrochrome products from Aug. 1 to promote high-quality development of the steel sector, the Ministry of Finance said on Thursday.

China to raise export tariffs for some steel products from August 1

FILE PHOTO: A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj

BEIJING: China will raise export tariffs for pig iron and ferrochrome products from Aug. 1 to promote high-quality development of the steel sector, the Ministry of Finance said on Thursday.

Export tariffs for high-purity pig iron will be lifted to 20per cent and for ferrochrome will be increased to 40per cent, the ministry said in a statement on its website.

(Reporting by Min Zhang and Shivani Singh; Editing by Edmund Blair)

Source: Reuters

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