China Considers Increasing the Storage and Import Tariffs of Zinc

According to the Dow Jones News Agency, the State Reserves Bureau was considering increasing the storage of zinc, the dealer and analyst said. At present, it is said that the storage of zinc will be increased and 5% import duty will be re-levied on them.

Chinese government was considering of raising the present tariffs of 3% on import zinc. Analysts in Beijing and Shanghai said.

The storage of zinc at present is uncertain but under considering. It is predicted that the amount will be equal to 59 thousand tons that purchased from seven domestic metallurgical plants in January.

An analyst of metal consulting company in Beijing said that China will increase the storage of zinc, and the State Reserves Bureau will purchase aluminum 300 thousand tons again in eight domestic aluminum metallurgical plants in March. China will re-levy 5% tariffs on import aluminum which was cancelled in 2007.

According to the dealer in Beijing and Shanghai, China is probable to raise the tariffs on import zinc from 3% to 5%, but the first thing Chinese government will do is not raising tariffs but increasing the storage.