China limits exports of energy intensive commodities

Beginning November first export taxes on copper, nickel, aluminum and other metals will be raised 15%; for petroleum, coal and coke 5% and for iron ingots, steel bars and other steel by products, 10%.

“These changes are geared to limit export of energy intensive products since the growth of these resources effectively means China is exporting energy, which it lacks”, argued Feng Fei a researcher at the Development and Research Center of the State Council, the Chinese cabinet.
MercoPress