China's export of steel billets soared 54.4 per cent
in November 2006 despite a 10 per cent tariff imposed
on exports of the item in the same month.
exported 1,480,000 tonnes of steel billets during the
month, up 54.4 per cent from the previous month, customs
of steel billets in the January-November period were up
30.7 per cent at 8,540,000 tonnes in volume terms and
up 28.4 per cent at $3,207.223 million in value terms,
Xinhua news agency reported.
exporters have, meanwhile, raised billet export prices
by $5 to $10 per tonne from January 1 this year, expecting
the government to raise the tariff by another five percentage
has been discouraging production of steel billets in recent
years through a series of policies and administrative
measures as it consumes enormous amount of energy and
resources and generates serious pollution.
proposes to maintain the tariff rates on billet exports
till the time
international demand shrinks. It may, however, tariff
hikes in check to avoid the lucrative international market
being cornered by foreign billet manufacturers.