Raise of export rebate rate does little to aluminium industry as a whole

On 17, the Ministry of Finance announced a third raise of export rebate rate which involves tax rate of 3770 kinds of products. The tax rebate rate will be raised to 13% from 11% for non alloy aluminium rectangle board, sheet and strip, etc. tax numbered 7606112000-7606920000. Tax rebate of copper pipe tax numbered 7411101900-7411290000 will be raised to 9% from 5%.

Field people consider the 2% raise for aluminium processing is too slight, added with export tax rebate of aluminium profile which was very much expected remain unchanged, adjust of this time do little to the general aluminium market.

Nonferrous Industry of Southwest Security¡¯s analyst said that adjust of export rebate played a positive role in digesting the large stock in the short run, however, it could not cure the crux of over capacity and weak downstream demand.

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