Platts clarifies Indian molybdenum import duty in Global Molybdenum Daily Dealer assessment

Platts, part of S&P Global Commodity Insights, clarifies that no import duty normalization is currently reflected for trades on a CIF Nhava Sheva/Mumbai basis for the Global Molybdenum Daily Dealer assessment.

For CIF Nhava Sheva/Mumbai, Platts reflects duty-free material wherein the seller is not responsible for payment of import duties. As of July 2024, the Indian Ministry of Finance changed import duties on Molybdenum products to nil for all origins. Prior to this, the duty on a delivered basis into India was typically 2.5%, meaning that Platts typically normalized trades of imported material to reflect a duty-free equivalent.

Platts understands that custom clearance charges continue to apply for trades on a delivered basis into India and as such will be normalized down to align with the broader imported CIF Nhava Sheva/Mumbai spot market.

The Global Molybdenum Daily Dealer assessment has the associated code MMAYQ00 and is published on fixed pages STL398 and PMA398, in SBB Steel Markets Daily, Platts Metals Daily and Platts price database.

Please send all comments, feedback, and questions to ferrous_emea@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.