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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