China Pushes Back Date for Moly Export Tax Removal

Platts reported that market sources have indicated that China has delayed the cancellation of its moly export tax. The tax was originally expected to be cancelled on January 1, 2015, but the date now appears to have been pushed to May 1, 2015.

As quoted in the market news:

The country’s Ministry of Finance on Tuesday released a detailed report on the tax revisions that would take effect January 1, which left the export taxes on all moly products unchanged.

The ministry had been widely expected to remove all the taxes on moly products from January 1 after the World Trade Organization in August ruled the country’s export controls on rare earths, molybdenum and tungsten via quotas and taxes were illegal and demanded it abolish the measures by May 2015, market sources said.

Click here to read the full Platts report.