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Archive
News: Tariffs
The Indian Ferro Alloy Producer's Association (IFAPA) has proposed sweeping changes to customs import duties for Ferro Alloys and raw materials.
On 30th January 2012, the WHO upheld its findings in July 2011 that China had engaged in imposing export restrictions which were contrary to China's WTO Accession agreement and to the General Agreement on Tariffs and Trade (GATT).
India's Ministry of Commerce has raised the export duty on iron ore to 30% effective from December 30th 2011, a 50 % rise from the previous 20%.
Recent attempts by China to crackdown on smuggled Manganese Flake via Vietnam are reported to be facing problems.
China is the world's dominant producer of Manganese Flake and for most of 2011 exports have been routed via Vietnam to avoid the 20% export duty.
China is set to be a molybdenum exporter in 2011 for the first time since 2008, but experts predict that future growth in Chinese steel consumption will outstrip domestic production.
Officials in India are looking at adding an extra 5 to 10% onto the current export duties on iron ore of 20%.
Currently, almost half of India's iron ore production is exported and there is a fear that further increases will make Indian miners increasingly uncompetitive.
Recently there has been a lot of publicity over the smuggling of ferro alloys of Chinese origin, which comes as no surprise to seasoned observers of world trade in ferro alloys.
There has been a lot of recent talk in the industry about the future of the Chrome Ore and Ferro Chrome market. South African producers are facing the quadruple whammy of increased production costs, power rationing, reduced ferro chrome prices and higher volume exports of chrome ore to producers and competitors in China.
The EU proposes a major reduction in the number of countries included in GSP, which would have a significant impact on the import tariffs for pig iron, ferro alloys and base metals.
