China raises ferroalloys export duties again

As it was earlier expected, on January 1 2008, Chinese government announced it had reviewed export duties on different kinds of ferroalloys.
Duty on SiMn and FeMn was increased from 10% to 20%, on FeCr – from 15% to 20%, on FeSi – from 15% to 25%.
Export duties on manganese metal and FeTi rose from 15% to 20%, on FeMo – from 10% to 20% (duty on Mo oxide remained at 15%). Under the decision of the government, a 5% duty on vanadium pentoxide was also imposed.
As in case of the previous export duty increase occurred on June 1, 2007, market participants expect no significant changes in ferroalloy export volumes after this new rise. However, ferroalloys importers will soon experience a price adjustment to be carried out by Chinese suppliers.