China will remove exports taxes on rare earths, aluminium rods and bars on May 1

China will remove taxes on exports of rare earths, ferroalloys, tungsten, molybdenum and indium from May 1, the Ministry of Finance said in a statement on Thursday. 

PHOTO: BLOOMBERG

23 Apr10:57 AM

[HONG KONG] China will remove taxes on exports of rare earths, ferroalloys, tungsten, molybdenum and indium from May 1, the Ministry of Finance said in a statement on Thursday.

The Ministry of Commerce had earlier flagged that taxes on rare earths would be scrapped from May.

China will also remove taxes on exports of non-alloyed and alloyed aluminium rods and bars from May 1, the statement said.

China is the world's top producer of most metals.

REUTERS