China Cuts 2010 Export Duty on Molybdenum, Indium

China will cut export duties for unwrought molybdenum and molybdenum powder to 5 percent in 2010, from 15 percent and 10 percent of 2009, respectively, according to the Ministry of Finance.

China, a major molybdenum, indium and tungsten supplier to the international market, would also reduce export taxes on unwrought indium, indium scrap and indium powder to 5 percent in 2010, from this year's 10-15 percent, according to a list of annual tax changes posted on the ministry's website.

Export taxes on chemical forms of tungsten would be reduced to 5 percent next year from 10 percent in 2009, the list showed.

The ministry said China would impose a 3 percent tax on imports of sulphuric acid, a by-product from copper and zinc smelting, a move that could support local prices and domestic smelters.

Tariffs on imports of plates, sheets and strips of primary aluminium of between 0.3 and 0.36 millimetres in thickness would rise to 2 percent next year from 1 percent this year.

The import duty on selenium would be cut to 2 percent from 3 percent, it said.