Metals News
[Cu] Significant Adjustment Appears in Export Rebates of Copper Products Again
industry news
13:16PM
Source:SMM

SHANGHAI, Apr. 1 (CBI China) -- China Ministry of Finance and the State Administration of Taxation (SAT) announced on March 27th that it will raise the export rebate on selected products. The copper products involved include copper plate and sheet, copper foil, copper tube and copper products, and the new policy will be effective April 1st 2009.

H.S. Code

Commodity Name

Previous

Now

7409111000-7409900000

Coiling refined copper plate, sheet, strip, etc.

5

9

7410110001

Copper foil for copper clad laminates and printed circuit board (thickness ≤0.15mm)

5

13

7410110090

Other non-backing refined copper foil (thickness ≤0.15mm)

5

13

7410121000

Non-backing copper-nickel alloy foil or copper-nickel-zinc alloy foil (thickness ≤0.15mm)

5

13

7410129000

Other non-backing copper alloy foil (thickness ≤0.15mm)

5

13

7410211000

Backing copper clad laminates for refined copper printed circuit board (thickness (except for backing) ≤0.15mm)

11

17

7410219000

Other backing refined copper foil (thickness (except for backing) ≤0.15mm)

5

13

7410221000

Backing copper-nickel alloy foil or copper-nickel-zinc alloy foil (thickness (except for backing) ≤0.15mm)

5

13

7410229000

Other backing copper alloy foil (thickness (except for backing) ≤0.15mm)

5

13

7411101900-7411290000

Other refined copper tube with outside diameter≤25mm

9

13

7418110000-7418200000

Pot scourers, scouring and polishing pads, gloves, etc.

5

9

    As the financial crisis broke out in October last year, the international economic environment deteriorated, and Chinese exports of copper products declined significantly, with the monthly average exports of copper products in 4Q down 30.58% compared to the average exports in the first three quarters, while the exports remained weak during January and February this year, and the average monthly exports fell by 17.6% compared to 4Q 2008.

    The export rebates adjustment of copper products are lifted to higher level in wider scope compared to the rebates adjustments in November and December last year due to the deteriorating export conditions.

    The statistics show that the exports of copper products focus on copper tube, copper foil and copper plate and sheet, with average export in 4Q 2008 down 330.9%, 44.5% and 25.6% compared to the average export in the first three quarters, respectively, while the average export of three products during the first two months in 2009 was up 3.5%, down 16.9%, and down 55.9%, respectively. In this context, the declines in exports of copper tube and copper foil slowed down after the export rebates were lifted last year, and the exports of copper tube even experienced increases, while the export of copper plate and sheet has been deteriorating with unchanged export rebates.

    CBI believes the adjustment of export rebates will be beneficial for the slowdown of export declines of copper products. However, whether it will improve the copper products exports will depend on the actual overseas demand.

 

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