06
May
01:00
China cuts mining production fees
A notice from the Chinese Ministry of Finance this week has recalled a 2004 notice imposing production fees on metallurgical mining enterprises. The move could see costs at China’s iron ore miners fall by as much as CNY 16/tonne ($2.60/t), according to some estimates.
Since 2004, a flat production fee has been levied at CNY 15-18/t, depending on the type of mine. Analysts say that if this gain is fully enjoyed by miners, it would mean a cost reduction …
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Very good overview of the weekly steel market.
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