The report on eliminating tariff for Silicon Metal exports in 2016 greatly shored up export market. Traders overseas responded quickly, requiring domestic exporters to remove the tariff from their Silicon Metal quotations. A majority of exporters were thus unwilling to offer quotations for fear of any further changes in export tariff and imposition of any other tax, including resource tax, which will also posh up their costs. Meanwhile, goods scheduled to be delivered by the end of December were postpone for January delivery. Although the delay in deliveries will incur storage charges, the removal of a 15% tariff will cause a decline of nearly USD 200-300/mt in purchasing prices of downstream buyers. As silicon metal supply was tightened due to falling operating rates, driving up silicon metal prices in spot market, the export price of Silicon Metal should rise after the tariff adjustment.
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