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BASE METALS
45% EXPORT REDUCTION POSSIBLE
China’s proposed zinc exports reductions could increase metal price
China, the world’s top zinc miner and consumer, is threatening to sharply reduce zinc exports during the second quarter by removing a tax rebate.
Author: Dorothy Kosich
Friday , 11 May 2007
RENO, NV -
Chinese traders and analysts say that Chinese officials may sharply cut zinc exports this quarter.
Zhou Guobao, head of the zinc and lead department of China's Nonferrous Metals Industry Association, told the Shanghai Daily News that "the sharp increase in zinc exports is a concern, and the government will probably remove the tax rebate to slow export growth."
China is the world's top zinc miner and consumes one-third of the world's zinc.
Feng Juncong of Beijing Antaike Information Development said net exports may drop as much as 45% to between 50,000 to 60,000 tonnes in the second quarter, as domestic demand is growing and the government is discouraging overseas sales.
Bloomberg News has reported that China is trying to curb metals exports to reduce the country's trade surplus and limit capacity growth in energy-intensive and polluting industries.
Meanwhile, Yunnan Chihong Zinc and Germanium announced it will build a lead and zinc smelter in Inner Mongolia if a mining deposit proves to have sufficient reserves.
Reuters reported that Yunnan would build a smelter designed to yield 100,000 tonnes of lead and 100,000 tones of zinc annual in Hulun Buir City, if lead and reserves in the region's deposit were provided to exceed 2 million tonnes
http://www.mineweb.co.za/mineweb/view/mineweb/en/page36?oid=20781&sn=Detail
BASE METALS
45% EXPORT REDUCTION POSSIBLE
China’s proposed zinc exports reductions could increase metal price
China, the world’s top zinc miner and consumer, is threatening to sharply reduce zinc exports during the second quarter by removing a tax rebate.
Author: Dorothy Kosich
Friday , 11 May 2007
RENO, NV -
Chinese traders and analysts say that Chinese officials may sharply cut zinc exports this quarter.
Zhou Guobao, head of the zinc and lead department of China's Nonferrous Metals Industry Association, told the Shanghai Daily News that "the sharp increase in zinc exports is a concern, and the government will probably remove the tax rebate to slow export growth."
China is the world's top zinc miner and consumes one-third of the world's zinc.
Feng Juncong of Beijing Antaike Information Development said net exports may drop as much as 45% to between 50,000 to 60,000 tonnes in the second quarter, as domestic demand is growing and the government is discouraging overseas sales.
Bloomberg News has reported that China is trying to curb metals exports to reduce the country's trade surplus and limit capacity growth in energy-intensive and polluting industries.
Meanwhile, Yunnan Chihong Zinc and Germanium announced it will build a lead and zinc smelter in Inner Mongolia if a mining deposit proves to have sufficient reserves.
Reuters reported that Yunnan would build a smelter designed to yield 100,000 tonnes of lead and 100,000 tones of zinc annual in Hulun Buir City, if lead and reserves in the region's deposit were provided to exceed 2 million tonnes
http://www.mineweb.co.za/mineweb/view/mineweb/en/page36?oid=20781&sn=Detail
Dan 
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