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Tight supplies drive up tax on imports of aluminium scrap
Apr 10,2018 16:02CST
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Source:SMM
Taxes on unauthorised invoices for aluminium scrap rose to 12% after the Qingming Festival as China's tariffs on aluminium scrap imports from the US weighed on supplies

SHANGHAI, Apr 10 (SMM) – Taxes on unauthorised invoices for aluminium scrap rose to 12% after the Qingming Festival as China's tariffs on aluminium scrap imports from the US weighed on supplies, SMM learned. 

Before the holiday, the tax rate stood around 10-11%. With higher tax rates, prices of aluminium scrap jumped and the impact cascaded down to low-end secondary aluminium alloy ingots ADC12. 

 


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