SHANGHAI, Sept. 18 -- China will not lift the export tax rebate on copper products including tube for the rest of the year, said a senior copper official at China Nonferrous Metals Industry Association (CNIA).

    "We adjusted export rebates for some copper products at the beginning of the year. All that should be done has been done already," said Zhao Bo, vice-director at CNIA's copper department.

    "There won't be any changes for the rest of the year," he said.

    Zhao said this in response to press speculation that China may raise copper export tax rebates further as part of rebate changes to lift its base metals markets.

    Most copper foils and tube exports currently enjoy a 13% rebate after the last April 1 adjustment, up from 5%, while copper foil of less than 15mm width already gets the full 17% rebate, from the previous 11% (MB March 30).

    The rebate increases were to help a copper sector badly hit by the economic slowdown.

    "Too frequent changes of the tax are no good for the industry, so I am also convinced it is unlikely to happen this year," said an official at a copper fabricator.

    China exports most of its copper in the form of household appliances and other consumer products.

    (Source: Metal Bulletin)