China mulling cancellation of 15% aluminum export tax
Dec 05, 2008 | 07:53 AM
| Tom Jennemann
Rumors are circulating that China might completely cancel its 15-percent tax on exports of aluminum alloys to help struggling smelters, analysts said.
China had imposed a 15-percent tax on aluminum alloys exports in August in an effort to curb overinvestment in the energy-intensive industry. The government also removed some aluminum export rebates earlier this year.
But Chinese demand and aluminum prices have since decreased significantly. In November, the Chinese Ministry of Finance announced it will lower the export tax on aluminum alloy rod and bars (with a circumference of less than 210 millimeters) to 5 percent from 15 percent, effective Dec. 1.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.