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China to raise export taxes on pig iron, FeCr on Aug 1


Starting August 1, China will raise the export tax on high-purity pig iron to 20% from the exsiting 15%, and that on ferrochrome (FeCr) to 40% from 20%, according to the latest amnnouncement by the country's Minstry of Finance.
The higher export taxes are "to support the upgrading, transformation and high-quality development in the country' steel industry", and the high-purity pig iron is under the HS code 72011000, as for the FeCr, all the high- and low-carbon have been included with the HS codes being 72024100 and 72024900, according


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