SHANGHAI Nov. 21 (CBI China) – Recently domestic exporters jointly increase their export quotation in December 2008, aiming to shift the 5% export tax to overseas market.
A trader in Fujian Province said: "The price of our inventory is higher than current market price, so the increase in export tariff has to be imposed on overseas customers. If the price goes lower, we will stop moving goods."
A trader in Tianjin expressed prices in domestic market has reached the bottom, hard to decline further, so export tariffs can only be assumed by foreign clients. However, as overseas demand is weakening, transaction will be very difficult.
Some traders still keep wait-and-see attitude, giving out no offer for the time being.
Another trader in Hunan Province said: "Due to the market outlook is not very clear, we will not give offer at present. Electric power price cut in Inner Mongolia region may be just the beginning; if domestic market experience large-scale adjustment of electric power price, the price of silicon may decline with lower ex-work prices from producers, so we choose to wait and see. "
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