Reported 3 days ago
China's recent cancellation of tax rebates on aluminum exports has sent shockwaves through the aluminum industry, causing significant declines in stock prices for Chinese companies while international counterparts seem to gain. The reform, aimed at addressing overcapacity and low profitability among Chinese enterprises, will make Chinese aluminum more expensive on the global market, potentially reducing export volumes. Analysts suggest that while the immediate effects may be challenging for exporters, the long-term benefits could help clear excess capacity in the industry.
Source: YAHOO