May 1st, China to deploy new export strategy on Tugsten! I copy and pasted the following article... An interesting read that will hopefully put a pulse back into Tungsten prices...!
Today the State Council, China’s cabinet, vowed to reform tax on rare earths, tungsten and molybdenum at an executive meeting of the State Council chaired by Premier Li Keqiang. In this meeting, it was announced that China will deploy the new resource tax on these technology metals on Friday May 1, 2015. The new resource tax will be calculated on the basis of prices, rather than production volumes.
The new rare earths resource tax reform will benefit major rare earth resource regions in China. The intent is to levy a resource tax based on price to help prevent over-consumption and boost industrial upgrading. Additionally, industry insiders anticipate a sharp rise in rare earth prices, which they believe will help insure that exports maintain a good price.
The adoption of the new resource tax policy on rare earths, tungsten and molybdenum is intended to replace the removal of the rare earth export tariffs, after China lost a the World Trade Organization (WTO) case last year.
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So far, the new resource tax ratio on rare earths, tungsten and molybdenum, has not yet been released by the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) yet.
- See more at: https://investorintel.com/technology-metals-intel/china-to-levy-new-resource-tax-on-rare-earths-on-may-1st/#sthash.EFA2LE3k.dpuf