China mulling extra 5% tax on all ferro-alloy exports, bullish for EMM: sources

China is considering adding 5% across the board to existing export taxes on ferro-alloys from Thursday July 1, market sources told Fastmarkets, adding that if that happens manganese flake prices will rise.

Manganese flake is extremely sensitive to what happens in China - since it produces 95% of the world's supply - and the spot price is already at a 13-year high in Europe and close to its highest level ever according to Fastmarkets' assessments in the United States, dating to 2017 for this commodity.
Should China act to cool alloy prices within the ongoing commodities boom, its announcement will follow one by Russia on June 25, saying it will add a 15% export duty to 340 metal products in addition to specific duties on those metals.

One source confirmed there was no confusion between the possible forthcoming...

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