China has announced a series of changes in duties on non-ferrous metals and steel, including the introduction of a 10% export duty on refined tin. The new duties were published on the finance ministry’s website in the last week of December and are effective from 1 January. The export tax is expected to further restrict Chinese tin metal exports and/or reduce concentrate imports, in line with the government’s long-standing strategy for resource conservation.
Refined tin exports in January-November 2007 amounted to 22,126 tonnes, while imports were 11,852 tonnes. However traditional tin trade flows have reversed from last August, since when domestic prices have been higher than the LME price and China has become a net importer. In November imports of 1,643 tonnes of refined tin were roughly double exports of only 826 tonnes.
