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2014 FORECAST: Trading rules changes likely to hit noble alloys
December 31, 2013 - 14:46 GMT
The noble alloys market will see changes in the coming year as China potentially alters its export tax on metals including tungsten and molybdenum, and as the EU amends its trade rules.
The Chinese government announced on December 11 that it had
decided to keep export taxes on ferro-alloys for 2014,
according to a statement posted on the ministry of finance
website, but it did not specify for how long or whether these
taxes might be lowered, as they are still deemed "provisional".
Ferro-tungsten and ferro-molybdenum are currently subject to a
20% export tax in China, and APT to a 5% tax, and for the time
being, it appears this is likely to remain the case. However,
these taxes are the subject of a dispute being arbitrated by
the World Trade Organization, as countries including the USA,
Europe, Canada and Japan have challenged the export
restrictions applied to various forms of tungsten, molybdenum
and rare earths. The...
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Euromoney Institutional Investor PLC.
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