| China's May 1 removal of export taxes on molybdenum products has boosted its exports of moly metal and scrap and left moly oxide and ferromoly markets largely unaffected, sources said Monday. The lifting of the 5% export tax on 99.9% moly metal had an immediate impact, with supply in China tightening as demand for exports surged, mainly from Europe.
June cargoes supplied by around 20 Chinese producers had sold out by end May and July cargoes were already fully booked this week, with the earliest supply currently seen available for August, a South Korean trader said...............................................Full Article: Source
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