Ministry of Finance imposes 10 pct export tax on tin scrap from June 1 China - 2007 May 27
China will impose an export tax of 10% for tin scrap with effect from June 1, 2007, the Ministry of Finance said in a statement on its official website late Monday.
The statement said the move was aimed to further tighten control on exports of energy-intensive and high-pollution industries, and to protect the country's available reserves.
"There will be very limited impact, if there is any, on China's export of tin scrap. China has not been exporting tin scrap or tin ore as its domestic demand has remained extremely strong. In fact, China has to rely on import of feed stock for tin production," an analyst from Beijing Antaike, the state nonferrous metals information division said.
The official said there have been talks of a possible export tax of 5% on refined tin and tin products since early 2007. "So far, we don't see it on this Ministry of Finance statement. Nothing is confirmed yet. We will have towait and see," the official added.
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