The removal of a 10% export tax is being cited as the main reason behind a huge increase in China’s exports of ferrovanadium. Exports soared to 724.225mt in April compared to just 205.1mt for the same month last year.
Shipments were: 368.475 mt (90 mt in Apr 2007) to Holland; 170 mt (7.1 mt) to Japan; 73 mt (40 mt) to Taiwan and 40 mt (zero mt) to Canada.
However, the imposition of a 10% export tax on V205 exports from 1 January 2008 is being blamed for a more sluggish market for Chinese vanadium pentoxide. Exports for April 2008 were 1,610.9 mt in Apr compared to 1,820.665 mt in Apr 2007. Chief destinations were: 851.3 mt (817.4 mt) to South Korea; 270 mt (291 mt) to Japan; 60.4 mt (428.165 mt) to Rotterdam and 120 mt (40 mt) to Canada.
Nevertheless, in the first four months of 2008 exports were 5, 965.789 mt compared to 5, 833.715 mt in the same period of last year.
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