US Imposes Tariffs on All Graphite from China
Brisbane, July 13, 2018 AEST (ABN Newswire) - ASX-listed NOVONIX Limited (
ASX:NVX) ("NOVONIX" or the "Company") hereby provides an update relating to the trade sanctions between the USA and China regarding graphite imports to the USA.
HIGHLIGHTS
- The USA has announced the imposition of a new 10% tariff on imports of natural and artificial graphite from China.
- Initial indications are that the new tariff regime is positive for NOVONIX Limited's business activities in graphite-based anode materials which are headquartered Chattanooga, Tennesee, USA, and for its 100%-owned natural graphite deposit located in Queensland, Australia
- Further investigation of the implications of the tariff changes for its current activities and for new opportunities in underway.
As foreshadowed by the United States President in the media in recent weeks, on 10 July 2018, the Office of the United States Trade Representative (USTR) released a list of Chinese exports that will now face a new 10% tariff.
The following excerpt from that list indicates the list of natural and synthetic graphite imports from China that will be subject to the new tariff regime:
- Natural graphite, crystalline flake (not including flake dust)
- Natural graphite in powder or flakes (other than crystalline flake)
- Natural graphite, other than in powder or in flakes
- Artificial graphite plates, rods, powder and other forms, for manufacture into brushes for electric generators, motors or appliances
- Artificial graphite, not elsewhere specified or included
- Colloidal or semi-colloidal graphite
- Carbonaceous pastes for electrodes and similar pastes for furnace linings
- Preparations based on graphite or other carbon in the form of pastes, blocks, plates or other semimanufactures, not elsewhere specified or included
Source: http://abnnewswire.net/lnk/8U741C7W
In recent years, the global graphite market has experienced growth at a substantial rate, mainly driven by the increasing demand from expanding downstream sectors including electronic devices, energy storage systems and electric vehicles. China has dominated the global graphite market with the world's highest graphite production and graphite exports during the past decade.
The changes announced this week to the tariff regime for natural and artificial graphite imports to the USA from China appear to be positive for NOVOINIX Limited's graphite-based anode materials business activities, including its PUREgraphite anode material Joint Venture based in Chattanooga, Tennessee, USA, along with the Company's 100%-owned large-scale 18%- grade natural graphite deposit located in, Queensland, Australia.
The Company is in undertaking further investigations of the implications of the tariff changes for its current activities, and for new opportunities.
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
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