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China likely to cut ferroalloys export tax

Reuters citing Mr Liu Guoqing acting chairman of China's Ferroalloys Association as saying that, China is likely to cut the 20% export tax on ferrochrome and ferromanganese in the second half of this year to help domestic producers.

He said that "The Chinese government is likely to do it in the second half. This goes hand in hand with efforts to help domestic production."

Mr Liu did not say what the new tax rates might be but said the tax cut was likely to target products that use less energy and require higher technology.
(Sourced from Reuters)

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