Uncertainty regarding Chinese export restrictions dampens prices

摘要

European molybdenum prices have weakened inthintrading, with dealers nervously awaitingthe result of China's expected lifting of export restrictions on molybdenum and tungsten. China is expected to lift restrictions on May2 after committing to do so following a World Trade Organisation (WTO) ruling last year that export controls on molybdenum, tungsten and rare earths were illegal. There has been industry speculation that the Chinese government may impose a resource taxon domestic mining to replace export taxes and quotas on molybdenum and tungsten.