China To Cut Export Quotas Of Minor Metals, Hike Silver Quota

SHANGHAI --China's Ministry of Commerce said Tuesday it is cutting export quotas for tungsten, tin and antimony for a second consecutive year, in a move that will help safeguard domestic supply of strategic metals.

However, the Ministry said traders will be allowed to sell more silver overseas in 2009 compared with 2008 after a higher export quota was approved.

In a statement on its Web site, the Ministry set the 2009 export quota for tungsten and its products at 14,600 metric tons, down from 14,900 tons this year.

Export quotas for tin and antimony as well as their products will be cut to 23,300 tons and 58,700 tons, from 33,300 tons and 59,900 tons this year, respectively.

The Ministry is also cutting molybdenum and indium export quotas to 25,500 tons and 233 tons, down from 26,300 tons and 240 tons this year, respectively.

But the export quota for silver is being increased to 5,100 tons from 4,800 tons this year, the Ministry said.

-Helen Sun contributed to this article; Dow Jones Newswires; (86-21) 6120-1200; helen.sun@dowjones.com