The Financial Times reports:

Metal and oil prices rose on Wednesday following an announcement by China that it was to scrap import duties on copper, coal and aluminium, and halve tax on oil products from the beginning of next year.

Export taxes on some steel products, coking coal and coke will also be raised to curb profits on exports of polluting products, the finance ministry said on Wednesday.

Export taxes on semi-finished steel products will be raised to as much as 25 per cent and a 15 per cent export tax will be imposed on some stainless steel, welded pipes and other steel products in an effort to cool investment in the steel sector, the ministry added.

This will help Southern Copper (PCU). Thanks to its big dividend ($2 a share last quarter), PCU is one of the most popular stocks on my Blue Chip Growth Buy List. PCU is a great buy up to $117.