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Graphene

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26/12/16

18:51

Post #: 21560258
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Originally posted by The_Earl_of_Loxley ↑

Removing the export tax, means the pricing Chinese exporters sell product to Europe, Japan, US etc will reduce by 20% from 1 Jan. This will make western groups even more wed to Chinese flake product and squeeze out people like MNS who are trying to go direct to western groups. I have been expecting the Chinese do something to protect their market share - looks like this is the play.

It doesn't change the margins the Chinese earn, if anything, they maybe lift prices 5% so the effect of the lower export tax is 15% net price reduction. Bear in mind, that lower prices does stimulate demand and that China is very long medium flake sizes and below but low on large to super jumbo flake. Hence, the reason why Chinese groups have locked up 280ktpa in MOUs and binding off-takes with VRC and MNS (though the Brandan Capital note says these are likely to quietly pass away).

If anything, it is a validation of SH's focus on getting MOUs with Chinese end users lined up ASAP, so the focus can be on getting these converted into binding off-take deals. The Chinese groups view east Africa as a key future supplier of large to super jumbo flake concentrate.

The winners will those with off-take agreements, project finance and lowest cost producers that don't neglect Chinese groups by the looks of it. There is more to this story -- the pressure will be more acute on projects in the Canada, US etc where production costs are high and beneficial to low cost areas like east Africa which have large to super jumbo flake.

Nice try, but not good enough IMHO to sway my thinking.

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Isn't trump tho putting 30% or some amount of tax on Chinese exports into us making vrc and mns more attractive to US? China removing export tax will just counter balance to net zero with its additinal tax on chinese exports to US?

VRC Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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bottomed out - only way is up, page-42

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bottomed out - only way is up, page-42

Top Stories

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Vulcan appoints investment bank and M&A veteran to board

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Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

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Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

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