China to end export tax on rare earths and other metals

On April 23, 2015, China decided to eliminate tariffs on rare earths and other such as tungsten, molybdenum and fluorspar starting from May 1 according to the Chinese Ministry of Finance. This might be the end an international trade dispute caused by this controversial policy.

sands cones - minerals of mining industry
sands cones – minerals of mining industry

China is the biggest producer and consumer of rare earths and responsible for approximately 93% of the world’s rare earth output, but in 2009 the country imposed export restrictions in an attempt to develop its own industry. As a reminder, rare earths are crucial elements for the manufacturing of a wide range of high tech devices, mobile and smart phones, products in the automotive industry etc.

After the implementation of the export tax ,an abrupt reduction in export quotas in 2010 left traders short and froze a high demand on the global market.

As a response to the abolishment of the tax , Bejing will put in place reforms to keep a certain control on its market: today’s chinese rare earth export tax rates currently range from 15 to 25%: 15% for light rare earth elements and 25% for heavy rare earth elements  but Bejing will implement a rare earth resource tax on domestic rare earth products.

rare earth minerals found in China- bloomberg.com
rare earth minerals found in China- bloomberg.com

The abolition of this restriction could push up the demand of rare earth demand on the global market and has already pushed a number of market speculation.

Forecasting the boom of demand and export of rare earth products , Shanghai Metal Corporation offers a wide range of rare earth metal products . You can visit the company’s website , contact us and follow us on twitter and facebook for more information and news on metal

source: bloomberg.com and www.mining.com

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Houria // SMC Editor

Milan’s “Made in Steel”

There is a very interesting event going on in Milan these days. In parallel to the 2015 International Exposition, Milan is hosting the Made in Steel exhibition. If you are involved in the steel business it is a great opportunity to promote your products and learn on the latest news about steel and its industry.

Untitled design (1)

According to the website of the fair, Made in Steel is both an industry and international event organized for the first time in 2005. It is a series of conferences and exhibitions all about steel. Here is how the official website of the event describes the fair’s aim and mise en scène.

A combination that expresses the two souls that co-exist within this event, which consists of a perfect balance between business and information, relationships and knowledge. (from madeinsteel.it)

Schermata-2015-03-19-a-10.23.53-920x435
From lamilanocheconviene.it

If you are in Milan or close by and you do not want to miss the chance to find out more about steel, its industry and market, you still have today and tomorrow  to attend Made in Steel. Don’t miss the opportunity!

generica
From siderweb.com
untitled
This is the location of the fair.

Remember! Shanghai Metal Corporation provides you with a great selection of steel products. For instance, we offer good quality Coils & Strips, Sheets & Plates, Pipes & Tubes, Bars, at a competitive price. Visit our website and do not hesitate to contact us.

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Stefano// SMC Editor