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BEIJING: The tax increase applies to refined nickel with harmonized system (HS) code 75021090, that includes most of Chinese nickel full plates imports from Russia, Finland, South African and Brazil. However, the greatest impact will be on shipments from Russia given that they account for half of the imports under this HS code. The raising of the import tax has boosted nickel prices on the London Metal Exchange and the Shanghai Futures Exchange, although cif China nickel full plate premium prices have shown little reaction to the order. Chinese import taxes on melting grade refined nickel with HS code 75021090 and electroplating grade refined nickel with HS code 75021010 currently both stand at 1%. However, the 1% import tax on HS code 75021010 electroplating grade
