China Molybdenum Product Imports Down
Platts reported that imports of moly ore and concentrates to China are down 25.5% on the year.
Platts reported that imports of moly ore and concentrates to China are down 25.5% on the year.
Platts reported that prices for China ferromoly products haven't changed in price since the beginning of the year.
Platts reported that Chinese traders are not in agreement about the short-term outlook for spot molybdenum oxide prices.
Platts reported that according to Jia Hongyan, the General Manager of the publication Molyworld, China's molybdenum export restrictions, which include an export quota, licensing, and tax, are not likely to change in 2012.
Platts reported that this week traders in China did not want to make spot sales of molybdenum oxide powder below $14 per pound despite the fact that sales have been closing between $13.80 and $13.90 per pound.
Platts reported that spot prices for molybdenum oxide powder increased on Tuesday.
China’s increase in the resource tax on molybdenum, equivalent to a 4-fold gain per ton is in full effect. The increase, aimed at conserving the country’s resources and curbing pollution could create a need for more imports of moly.
Bloomberg reported that China has raised molybdenum and other metals resource taxes in an effort to conserve reserves.
Steel Guru reported China's molybdenum trade balance for September 2011 and year to date trading.
Steel Guru reported that the International Molybdenum Association sees a 6% annual increase in moly consumption for the next several years.
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