Market braces for magnesium tax possibility

Dec 22, 2006 | 10:41 AM | Meghann McDonell

U.S. magnesium prices could shoot up next year if China decides to slap an export tax on the metal, traders warned.

Market sources said China could be planning to introduce a 10-percent tax on all magnesium exports early next year in line with similar moves this year designed to reduce China's exports of raw materials and ease its massive trade surplus with Western nations.....

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