Day: December 30, 2022

Dec 30

China to adjust trade tariffs on some goods from Jan 1

China will adjust import and export tariffs on some goods from January 1, in order to speed and promote development and expand domestic demand, the finance ministry said on Thursday. Export tariffs on aluminium and aluminium alloys are to be raised, the ministry said in a statement, citing the tariff commission of China’s state council, or cabinet. The current import tariff will stay on seven types of coal until March 31 next year, with tariffs adopted for most favoured nations Read Full Details…

Dec 30

China’s Primary Aluminium Imports in November Increased 64.1% on the Month But Fell 51.7% on the Year

SHANGHAI, Dec 30 (SMM) – According to data released by the General Administration of Customs of China, China imported about 110,678.26 mt of primary aluminium in November 2022, including 76.276 mt under HS code 76011010 and 110,601.99 mt under HS code 76011090. China’s primary aluminium imports in November increased 64.1% month on month but fell 51.7% year on year. The imports totalled 540,400 mt in January-November in 2022, a year-on-year decrease of 66%. Source : news.metal.com

Dec 30

Serbia’s Jan-Nov trade gap expands 42%

BELGRADE (Serbia), December 29 (SeeNews) – Serbia’s trade deficit rose by 41.8% in the eleven months through November, reaching 10.212 billion dollars (9.601 billion euro), the country’s statistical office said on Thursday. Exports increased by 12% year-on-year to 26.120 billion dollars in the January-November period, while imports went up by 19% to 36.333 billion dollars, the statistical office said in a statement. The export-import ratio fell to 71.9% from 76.6% in the first eleven months of 2021. In November alone, Read Full Details…

Dec 30

More Initiatives On Anvil To Boost Steel Sector In 2023

With increasing steel production in the country, the focus in 2023 will be on boosting raw material supplies and producing more special grade steel, according to Union minister Faggan Singh Kulaste. India produced 113.43 million tonne of crude steel in January-November 2022, which is 10 per cent higher compared to the year-ago period. The government aims to double the country’s annual crude steel making capacity to 300 MT from 150 MT at present. In an interview to PTI, Kulaste, the Read Full Details…

Dec 30

Indonesia to Ban Bauxite Export from June 2023

On December 21, 2022, President Joko Widodo announced that Indonesia will impose a bauxite export ban starting from June 2023, in a move to shore up the domestic processing of its mineral resources. In this article, we explain what the bauxite export ban is, why Indonesia introduces the bauxite export ban, and what the potential impacts are. What is the bauxite export ban?Bauxite is the best and only material for large-scale production of aluminum, a metal that is widely used Read Full Details…