Customs Tariff Commission of the State Council issued a circular yesterday, decided August 20 onwards, the coke export provisional tax from the current 25% to 40%, or 60%.
Experts believe the move is intended to curb high pollution, glue stick high energy consumption, exports, ease the tight supply situation in the domestic coke, more importantly, counter the international iron ore prices nearly doubled.
Iron ore in the previous negotiations, the Australian iron ore supplier Rio Tinto and BHP Billiton iron ore prices with China achieved 96%,glue gun and then announced a price increase iron ore prices in Europe 71%.
Iron ore and coke is all the world's steel mills have to use the materials, the three major suppliers of iron ore accounted for about 70% of global iron ore trade, and in the coke, China accounted for coke production and global More than half of the volume of trade.
China's coke exports increased rapidly in the first few months of this year. Customs data show China's total exports during the first half of coke 7,440,000 tons, of which exports amounted to 1.66 million tons in May, setting a single month since 2007 export record.
Prior to the use of the tax and the Chinese method of inhibiting the export quota early this year, the official will be coke export provisional rate from 15% to 25%. Last month, the Commerce Department released the second batch of this year, general trade was only 2.39 million tons of coke export quota, while coke export quota this year's first batch of 962 tons.
July, China's coke exports dropped by a five percent year on year, to 83 million tons. Industry sources estimate that in the second half, or slightly lower than the export volume of coke last year's level.
In recent years, China's coke export policy has been criticized, a large number of developed countries to reduce their own environmental and coke production, coke output in China has long-term low-cost, export increased from 1.08 million tons in 1991 surged to 14.5 million tons in 2006, an increase of nearly 14 times.
Li, vice president of China Iron and Steel start planning that China's export commodities on the lack of experience and skills. China's imported oil, iron ore and copper and other metals, prices rose year after year, exports of coke and rare earth and other strategic resources, myself are sold cheaper.
Analysts believe that the tariff of coke rose 15% increase far more than previously expected increase of 5%, indicating that the coke export policy-makers determined to come down, to reduce China's export volume is expected to lead the world's coke prices.