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China's export tax hits wire rod market

After the elimination of export tax rebates by China's Government for wire rod from April 15th, 2010, another new policy related to this product has been published later. The new policy is that Chinese government will collect export tariff about 5% to 10% for wire rod products, and the new policy will effect from JUN 1ST.

As the new policy just shows the power to the wire rod products, both international and domestic markets will be required to adapt the higher price in the near future. Thus the price of related products such as welded wire mesh, barbed tape wire and etc would slight increase in the near future.