SMM details new tariff on downstream aluminium products in 2017

Shanghai Metals Market has compiled the new tariff on aluminium products for 2017- both import and export- to present a clear picture of the revised duty adjustment. The products covered are refined aluminium- alloys, aluminium bars and rods- not alloyed, aluminium bars and rods of aluminium alloys and aluminium bars and rods of aluminium alloys.

According to the 2017 Tariff Adjustment Plan With the approval of China’s State Council, there are no changes in the export-import duty rates on aluminium products in 2016 and 2017. China’s Ministry of Finance released the Circular of Customs Tariff Commission of the State Council on Adjusting Export Tariffs on Some Commodities, on April 23, 2015, and it was effective May 1, 2015. The adjustment made involved export duties on three categories of aluminium products which were lowered.

Following table details the duty adjustments on the aluminium products:

In December 2016, Chinese aluminium processors grew enthusiastic about exports due to Chinese yuan’s depreciation and falling aluminium prices in domestic market. SMM expects China’s exports of aluminium downstream products will recover in December 2016.

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