July 2009 | Ferro-alloys
China halves Mo export tariff: Molybdenum highlights
Chinese imports plummet, but prices continue to rise.
The Chinese government has tinkered with the export regulations for molybdenum yet again. This time they have lowered the export tariff from 10% to 5%. Over the past few months, China has been importing molybdenum at an astonishing rate, leading to fears of an oversupplied domestic market. This fear may well be the cause of a lower export tariff, which may encourage more outflows of the material. However, buying on the international market is still low (it is mainly Chinese buying which is propelling the markets), so a 5% price drop is not likely to have much of an effect on China’s trade balance.
China imports more and exports lessAs...
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