21 JUNE 2011www.steelguru.com
China government considers canceling aluminum rebates
Edited by : AL CIRCLE
1 min read
China’s central government may cut its tax rebate for the nation’s aluminum exporters in light of punitive actions taken by the United States. Specifically, tax rebate on exports of certain semi finished aluminum products may be cut to 9% from 13%.
The source said that the government may encourage the integration of the domestic aluminum sector by limiting aluminum exports through the tax rebate cuts. Australia might consider anti-dumping measures actions similar to those taken by the US in the near future.
Aluminum prices on London Metal Exchange are likely to rise due to a demand increase in the EU and US markets, and supply decrease from China.
The source said that the government may encourage the integration of the domestic aluminum sector by limiting aluminum exports through the tax rebate cuts. Australia might consider anti-dumping measures actions similar to those taken by the US in the near future.
Aluminum prices on London Metal Exchange are likely to rise due to a demand increase in the EU and US markets, and supply decrease from China.
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