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.....
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