China Nonferrous Metals Industry Association proposes to cancel the export tariff of raw aluminum


According to Bloomberg, the vice president of China Nonferrous Metals Industry Association, document Jun, said in an interview that China's aluminum export momentum has been weakening since June due to trade frictions, and the Association recommended the government to eliminate 15% of the export tariff on raw aluminum.

He said the original intention of the tariff was to avoid the rapid expansion of domestic capacity; but now the capacity of China's aluminum industry is reaching the upper limit of 45 million tons, which is different. China's demand for raw aluminium is expected to fall 1.2% to 36.5 million tonnes this year, due to the lacklustre performance of the real estate market and a drop in car sales. By 2022-2024, the consumption of raw aluminum may peak at 40-42 million tons. (From Alu)