Metal News

Print
25.06.2012 09:28

Tax Hike On Talc In 2012

Beijing: This year, the largest producer of metals and minerals is facing strict limitations in production as well as exports. China, in 2012, is witnessing a tax hike in six minerals as well as on various raw metals that are widely used in the manufacture of metal products. The Chinese government has raised the mining tax on minerals including talc, manganese, boron, borates, and two others.

The largest supplier of manganese and talc and a leading producer of borate minerals has hiked tax rates this year, a step that may lead to a fall in the ranking of China as a global metal and mineral provider. The Shanghai Securities News reports that the increases in tax also apply to metals such as tin, iron and molybdenum. This announcement was made by the Ministry of Finance and the State Administration of Taxation.

The resource tax has been increased to renminbi (Rmb) 20/tonne for talc and boron, which is $3.18 per tonne, while that for manganese was hiked to Rmb 15/tonne that calculates to $2.38 per tonne. The rise in taxes will have an adverse effect on its demand and a direct negative impact on manufacture of consumer goods that are produced using such minerals and metals.

Share |

More News

Metal Supplier to Start Operations Soon
14.04.2014 07:02
Florida: EAC Corp., a Florida based metal supplier that supplies raw metals to a number of metal product manufacturers in the industry is set to start new operations in the present month of the current year. The metal supplier has signed a lease at Kokomo facility. Work has already commenced at the facility as one of the manager
Eco-Friendly Iron Artwares Attract Markets
11.04.2014 07:01
United States: Green revolution is something that even the metal product manufacturers are supporting since the last 5 years. With a growing concern towards the ecology and environment, metal product industry is trying to find out a number of different ways as well as techniques of manufacturing substitutes that can prevent resources from
Forging Aluminum Parts Expansion
10.04.2014 08:03
Camden: The leading commercial vehicle metal products parts supplier, Accuride Corporation, has decided to expand their forging aluminum parts business at the Kershaw County Plant, in the Kershaw County. The company is planning to invest 8.73 million USD as investment capital and hopes that the forging aluminum parts expansion
Cangold Begins New Metallurgy Project
10.04.2014 08:01
Vancouver: Cangold Limited has announced that it has started a new metallurgy project this month. The company that conducts a number of metallurgy programs for testing and exploring the best metals for metal products’ manufacture has commenced its testing program for the Ixhuatan Gold-Silver Project in Chiapas, Mexico
China Steel Corporation Seeks Aussie Iron Ore
09.04.2014 07:24
Taiwan: Taiwan based China Steel Corporation, an organization that deals in steel metal products is eyeing Australian Iron ore and coal resources. It is even more hopeful of winning the resources from Australia since steelmakers from China, Japan and South Korea will be bidding together with the corporation
Moulding Machines Face Pressure in Recession
08.04.2014 07:31
Los Angeles: It is not only the ferrous metal product industry that has succumbed to recession but also a number of others. The injection moulding machines industry is one such part of the economy that has buckled down due to the poor economic conditions. Further, the revenue accruing from this industry is predicted to go down by an annual
Nippon Hikes Steel H-Beam Prices
08.04.2014 07:01
Japan: Nippon, the world renowned metal products’ manufacturer, has finally announced that it will be raising the prices of its steel H-Beams, this month too. The company’s price hike will continue for the second consecutive month this year. Japan’s largest producer of H-Beam will be pushing its prices higher by ¥2,000 ($25) per tonne
US Sets Duty on Wire Products
07.04.2014 10:08
United States: The United States Commerce Department has decided to set duties on the metal product steel wire, and on wire products. The Department made its decision to retaliate duties on the imports of galvanized steel wires that come in from China and Mexico. It said that the wires that are being manufactured in China are both being
Micromeritics Quickvac to Handle Mercury Metallic Compounds
02.04.2014 08:20
Australia: With the aim to efficiently contain mercury spills in the laboratory, the Particle & Surface Sciences have designed the Micromeritics Quickvac. Various non-metal and metal products like paper, dental amalgams, thermometers, semiconductors, electrical switches, paints, preservatives, cosmetics and lighting use mercury
Fittings Market worth 152 Billion USD
02.04.2014 08:07
California: According to a new report by the Global Industry Analysts, Inc., the pipe and host fittings market will be worth 152 billion USD by 2017. The astounding forecast is due rising demand of pipe and host fittings in industries like irrigation, agriculture, oil and gas, mechanical engineering, construction and automotive engineering