The mainland will raise some steel export taxes and continue to levy a tax on exports of coal, crude and ores next year to cool investment in energy-intensive and polluting sectors, according to the Ministry of Finance. It said yesterday that export taxes for energy-intensive products including ferro-alloy, coke and steel billet and some steel products would be raised. It has not issued any details. It also said it would continue to levy a tax on exports of coal, crude oil and ores next year at tentative rates set earlier. The new tax policy, aimed at removing profits for exporters and forcing small or polluting businesses to shut, would be effective January 1, it said. Taxes on steel billet, now at 15 per cent, could rise to 25 per cent while hot rolled steel coil could rise from 5 per cent to 15 per cent, the China Securities Journal said yesterday. Other industry sources have said steel billet exports could be taxed even higher, at 35 per cent. The country has so far been ineffective at persuading steel mills to close small, polluting or energy- and resource-inefficient plants, even as they have added new capacity at a rapid clip. Planners hope that removing the profits on exports will dry up the markets that keep the mills financially solvent. 'Let's just say that any studying that needed to be done [about the tax changes] has already been done,' Luo Bingsheng, vice-president of the China Iron and Steel Association, said. The export tax on long products, a relatively cheap type of steel used in construction, was likely to rise to 15 per cent from 10 per cent, steel industry sources said. The country will readjust import and export tariffs on a series of products for next year, partly to fulfil Beijing's pledge made six years ago when it joined the World Trade Organisation.