SHANGHAI, Apr. 27 (SMM) – China will remove provisional export tax on aluminum bar and rod from May 1, 2015, the Ministry of Finance said in a statement today.
The followings are collections of major institutions’ views on impact from this policy.
Although just 15,000 tonnes of aluminum semis will benefit, the tax adjustment has jittered market, as reflected by the knee-jerk selloffs shortly after the news is announced.
Sanford C. Bernstein
Market fear was overdone since producers outside China will continue to control output to offset impact from growing supply of Chinese aluminum semis.
International Capital Corp.
The tax cut will reduce supply in China’s domestic market, but will push up global supply.
The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.
For news cooperation, please contact us by email: firstname.lastname@example.org or email@example.com.