SHANGHAI, Jan. 4 (SMM) – There is a good chance for China to raise export rebate on deeply processed aluminum semis in 2016 after dosing so during the 2008-2009 global financial crisis, SMM predicts.
SMM's prediction is based on the fact that such products have high value-added, and encouraging exports of such products can help alleviate overcapacity in domestic aluminum market.
SMM sees low possibility for China to remove export duty on aluminum ingot and intermediate aluminum products, such as aluminum coil, in 2016.
Cancellation of export duty on aluminum ingot and intermediate aluminum products runs against China’s intention of encouraging exports of deeply processed products. Besides, massive exports of such products will cause overseas aluminum prices to slump, which will send ripple effects into aluminum prices in China’s domestic market, SMM aluminum analyst explained.
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