China plans to zero import duties on the import of pig iron, steel semi-finished products, scrap and ferrochrome into the country

China plans from May 1 to zero import duties on the import of pig iron, steel semi-finished products, scrap and ferrochrome into the country, the Wall Street Journal writes, citing a statement from the PRC Ministry of Finance.

The measure will support the supply of steel products to the Chinese economy, increase the volume of imports of raw materials for its production and reduce import costs.

At the same time, China will increase export duties on ferrosilicon and highly refined cast iron to 25%.

Changes in metal trading tariffs will be temporary, but the terms of their validity have not yet been announced, the newspaper writes.

Based on the materials: The Wall Street Journal

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