Proposed cancellation of the aluminium export tax rebate news, the market reacted quickly, aluminium prices appeared obvious "strong outside and weak inside" trend.
Ministry of Finance, the General Administration of Taxation announced on November 15, since December 1, 2024 to cancel the export tax rebate for aluminium. Part of the refined oil, photovoltaic, batteries, some non-metallic mineral products, the export tax rebate rate from 13% to 9%.
For this proposed abolition of export tax rebates on the copper and aluminium processing industry, several industry insiders told Caixin News Agency reporter, in the short term, although it will be to a certain extent so that the domestic downstream profiles market pressure, but in the long run, it is conducive to forcing the enterprise in the field of scientific and technological innovation and other areas of strength, the main focus on high value-added products.
