China’s aluminum & copper companies may face risk of losses after export tax rebates canceled
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Update time : 2024-11-28 16:29:20
Starting from December 1, 2024, China will cancel the export tax rebates for some aluminum and copper products, increasing export costs.
In the short term, rising production costs for aluminum and copper processing companies may lead to export losses, forcing companies to adjust product mix and export prices.
However, in the long run, this policy will help reduce the export of low-end products, increase the added value of products, promote industrial upgrading and structural adjustment, and improve China’s international competitiveness.
At the same time, the policy will also prompt some excess production capacity to exit the market and optimize the structure of China's copper and aluminum processing industry.
US primary aluminium production shows a 4% monthly rebound in October, but no positive change seen in YTD output
