China is easing its tax free imports of copper, nickel and cobalt concentrate as of Feb1, so long as the finished products are re-exported.
The Ministry of Commerce's website stated such a move reverses a two year old policy of taxing these minerals.
The country will also allow duty-free exports of refined copper, unwrought nickel and semi finished aluminum products.
Copper concentrate imports are currently subjected to a 17 per cent value added tax and exports of refined copper are taxed at 10 per cent.
The new policy would reduce the costs of financing imports which may in turn boost smaller smelter operations and increase exports of primary aluminum. It would also allow financial firms to hedge imports of concentrate on the London Metal Exchange says traders.
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