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No Changes to China's Copper Export Rebates This Year, CNIA

Copper Prices Drop as Inventories Rise to Highest Since May

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).
&nbsp;&nbsp;&nbsp; &quot;We adjusted export rebates for some copper products at the beginning of the year. All that should be done has been done already,&quot; said Zhao Bo, vice-director at CNIA's copper department.
&nbsp;&nbsp;&nbsp; &quot;There won't be any changes for the rest of the year,&quot; he said.
&nbsp;&nbsp;&nbsp; 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.
&nbsp;&nbsp;&nbsp; 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).
&nbsp;&nbsp;&nbsp; The rebate increases were to help a copper sector badly hit by the economic slowdown.
&nbsp;&nbsp;&nbsp; &quot;Too frequent changes of the tax are no good for the industry, so I am also convinced it is unlikely to happen this year,&quot; said an official at a copper fabricator.
&nbsp;&nbsp;&nbsp; China exports most of its copper in the form of household appliances and other consumer products.
&nbsp;&nbsp;&nbsp; (Source: Metal Bulletin) 
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