Semi-finished Aluminum Products Export Tax Rebates or Cancelled

[China Aluminum Network] August 8, Vice-chairman and General Secretary Jia Mingxing said on the press conference August 4th in Beijing that China is studying upon the possibility to cancel export rebate for semi-finished aluminum products.

Liu Libing, vice chairman of Henan non-ferrous metal committee indicated yesterday that semi-finished aluminum products are medium products between aluminum ingot and aluminum profiles. According to the Treasury Department, the current export rebate rate of semi-finished aluminum is 13%.

Obviously, export enterprises will decrease their profit when export rebate of semi-finished aluminum products is cancelled. Liu said that enterprise profit of Semi-finished aluminum products is transparent. Enterprises mainly own processing charges on the basis of aluminum ingot (primary aluminum) ranging from 500 Yuan/Ton to 700Yuan/Ton at least and 3000 Yuan/Ton to 5000Yuan/Ton when it is optimistic.

Liu Libing considered that canceling export rebates will not affect electrolytic aluminum so much since Chinese electrolytic aluminum industry mainly depends on domestic consumption. For instance, consumption of Chinese electrolytic aluminum and secondary aluminum reaches about 20 million ton among which the import and export amount only accounts for 1 million ton.

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