China's customs tariff commission of the State Council, the cabinet, has issued a circular on adjustment of tariff rate on export of aluminum(from: http://www.industry-raw-materials.com/buy-aluminum/) alloy and coke.
According to the circular, the tariff rate on export of aluminum alloy (tariff No. 76012000) conducted in general trade will have a temporary rate of 15 percent.
The tariff rate on export of coke (tariff No. 27040010) will increase to 40 percent from 25 percent.
The tariff rate on export of coking coal (tariff No. 27011210)will increase to 10 percent from five percent.
The tariff rate on export of other types of bituminous coal (tariff No. 2711100, 27011290, 27011900, 27012000, 27021000, 27022000and 27030000) will be ten percent.
The new tariff rate will become effective on August 20.
It is reported that the move aims to ease a tight coke supply(from: http://www.industry-raw-materials.com/buy-coke/) indomestic markets and to contain export of products with high pollution and energy cost. China is the world's biggest coke exporter,which accounts for 60 percent of the coke trade volume. Despite somewestern country's move in reducing coke production for environmental reasons, China's coke exports have continued to increase in recent years.Coke exports surged to 14.50 million ton in 2006, representing an increase of 14 times in 15 years since 1991. The figure hit arecord 1.66 million ton in May this year. The nation's coke exports, however, hit a turning point in July, when the government decided to adjust its export policy to tackle the problem. Coke export in July fell to 830,000 ton, down 10 percent year on year. China's move in raising export tariffs indicated that the government had made its decision to reduce coke exports, said market analysts.
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