It was reported that the China Nonferrous Metals Industry Association (CNIA) suggests canceling the 15% export tariff on primary aluminum. The export tariff was originally to avoid the overmuch expansion on domestic production capacity, while China's aluminum industry is now reaching the capacity ceiling of around 45 million tons.
In fact, China's demand for primary aluminum was expected to fall by 1.2% to 36.5 million tons this year, and the consumption might reach the summit at a range from 40 million to 42 million tons in 2022-2024 due to weak real estate market and decreasing car sales.
In addition, China's aluminum export performance has been shrinking since June this year due to global trade friction, and the Chinese government’s strict environmental policy on aluminum smelters also influenced the overall export market.
China Nonferrous Metals Industry Association suggests canceling export tariff on primary aluminum
15 Nov 2019 10:34 reported by Joy Liu
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