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Platts reported that uncertainty regarding China’s export tax policy continued to limit moly spot trading on Tuesday.
Platts reported that uncertainty regarding China’s export tax policy continued to limit moly spot trading on Tuesday. The country’s government indicated back in September that the policy could change for moly oxide and ferromoly starting in 2015.
As quoted in the market news:
Chinese moly oxide has a 15% export tax and ferromoly 20%. The officials had suggested the tax rate could be cut or removed altogether, the sources said. But nothing official has been announced yet, they added.
Lower export taxes could increase availability of Chinese moly products in international markets, putting downward pressure on prices, sources said.