The high export duties on minor metals are unlikely to be scrapped any time soon, according to a Chinese analyst.
China has high import duty on metals such as tungsten and molybdenum and Chinese state research body Antaike chief analyst Xu Aihua told Reuters that the duties would stay because they are vital to Chinese industry.
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He said: “Both minor metals are strategic metals so it is not likely that China will get rid of them. In the short-term, I don’t think China will change its policy on strategic metals, even though traders hope they will.”
