Government considers removing preferential policy on imported Cu conc.

摘要

Chinese government is considering removing the preferential policy on importing copper concentrate in a move to cool down the overheating copper smelting industry in the nation, industrial insiders said. According to the existing preferential policy, copper smelter can exempt tariff on imported copper concentrate if it process the concentrate into copper cathode and export the cathode. It is estimated that the government will remove the preferential policy from January 2006, industrial insiders said. If the preferential policy is removed, copper smelter will pay 13 percent VAT in importing copper concentrate. Therefore, Chinese export of copper cathode will reduce and import of the red metal will also decrease somewhat, industrial insiders said.