Steel export tariff increased

From June 28, the export tariff for steel billet will be increased to 10%, according to a new decision issued by the Ministry of Finance.

This is quite a sharp increase as the current tariff is 0%.

The new tariff is applied to steel and iron products listed in the subgroup 7204.50.00.00 and groups 7206 and 7207 stated in the Decision No 106/2007/QÐ-BTC dated December 20, 2007 issued by the Ministry of Finance.

The increase is aimed at preventing domestic enterprises from export steel billet, thus contributing to stabilising the domestic stock