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Platts reported that even though the World Trade Organization (WTO) has ordered China to remove export restrictions on rare earths, molybdenum and tungsten, the country is unlikely to “reclaim its position as a major exporter of molybdenum oxide and ferromolybdenum.”
Platts reported that even though the World Trade Organization (WTO) has ordered China to remove export restrictions on rare earths, molybdenum and tungsten, the country is unlikely to “reclaim its position as a major exporter of molybdenum oxide and ferromolybdenum.”
As quoted in the market news:
The outcome was within Chinese market expectations, sources said. They did not expect the government to act quickly to remove the 20% export tax on ferromoly and 15% tax on moly oxide. They said the country would likely remove the policies at the end of this year and take effect on January 1, 2015.
The country has 60 days to contest the findings and a six-month grace period afterward, sources in China’s moly market said.
They added that China could impose or increase other permitted taxes such as mineral resources taxes to replace the export tariffs as a way to continue minimizing exports of moly products.