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| Exports And Imports Of Molybdenum By China In Jan. - Sep. 2006 |
| = Since Merit Of Conversion Trade On Consignment Disappeared, Imports Of Moly Ores Decreased Considerably |
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The quantities of molybdenum exported and imported by China in the first nine months ( January - September ) of 2006 were as per the table attached hereto. According to the above data, since a merit of conversion trade on consignment in China disappeared, the quantities of molybdenum ores imported from overseas countries into China in January - September of 2006 had decreased to a considerable extent in comparison with those in the same period of 2005. The Central Government of China revoked export tax rebate for ferro-molybdenum from January of 2005 and also shrunk preferential treatments for exports of molybdenum, including prohibition of conversion trade on consignment, to a substantial extent from August. Consequently, these measures have influenced on molybdenum businesses by China like a body-blow and its effects have come up to the surface in 2006. A main factor is that price of ferro-molybdenum has fallen and, therefore, a profitability of conversion trade on consignment in China has deteriorated. As a matter of fact, China imported 17.66 million lbs. of molybdenum in unroasted molybdenum concentrates in January - September of 2006, having had a considerable decrease of 20.2% compared with that ( 22.31 million lbs. ) in the same period of 2005. Following a decline of unroasted molybdenum concentrates imported into China as mentioned above, China imported 4.81 million lbs. of molybdenum in molybdenum oxide in January - September of 2006 as decreased by 14.6% compared to that in the same period of 2005. ( Note : The quantities of molybdenum concentrates imported into China as mentioned above have excluded those imported from Myanmar and, when the quantity imported from Myanmar into China is included in the data, the total quantity on material base decreased by 40% compared wit that in the same period of 2005. ) China also decreased their exports of molybdenum. However, in comparison with the quantities imported into China in the first nine months of 2006, China decreased their exports of molybdenum only by 9.7% as a whole and the quantity of molybdenum oxide exported from China in January - September of 2006 had a slight increase from that in the same period of 2005. China exported 20.39 million lbs. of molybdenum in ferro-molybdenum in January - September of 2006, having decreased by 20.2% compared with that ( 25.55 million lbs. ) in the same period of 2005, and also exported 26.14 million lbs. of molybdenum in molybdenum oxide as increased by 2.1% compared to that ( 25.62 million lbs. ) in the same period of 2005. The reason, why China decreased their exports of ferro-molybdenum, was due to the antidumping duty imposed by EC on imports of Chinese ferro-molybdenum but EC ( The European Commission ) has suspended from the 24th October of 2006 this imposition for 9 months and, therefore, there will be a margin to recover exports of ferro-molybdenum from China to Europe. In comparison with a considerable decrease of molybdenum concentrates imported into China as raw material, a decline of molybdenum products exported from China was small and there is a view in the market that this aspect is an evidence for a steady recovery of molybdenum production in China from a depression in last year. Many of small molybdenum mines in Huludao area of Liaoning province had been ordered in last year to stop their operations from a safe point of view and it was estimated that a scale of the cutback would be 70% of the capacity ( to produce 20 - 30 million lbs. per annum ). It was informed in the beginning of this year that the production of molybdenum in this area recovered to some extent, but a scale of its recovery is not known yet. For a reference, the quantities ( on material base and the figures in parenthesis were those in the same period of 2005 ) of unroasted molybdenum concentrates imported from main sources into China in January - September of 2006 were <> from Chile : 2,591 metric tons ( 6,046 tons ), <> from Iran : 2,049 tons ( nil ), <> from North Korea : 532 tons ( 436 tons ), <> from Mongolia : 2,531 tons ( 1,709 tons ), <> from Myanmar : 505 tons ( 7,793 tons ), <> from Peru : 5,177 tons ( 6,645 tons ), <> from Russia : 2,080 tons ( 1,579 tons ) and <> from USA : 979 tons ( 3,676 tons ). |
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| last modified : Fri 17 Nov, 2006 [11:36] |
