China’s cancelation of tax rebates leads to surge in aluminum prices

2024-11-19

Following China's announcement of canceling tax rebates on aluminum, global aluminum prices have surged, with LME futures hiking by 8.5%. This move is expected to reduce Chinese aluminum exports and impact global supply chains, affecting industries such as automotive, construction, and packaging. Countries reliant on Chinese aluminum will need to find new suppliers amidst limited production capacity elsewhere.

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Big news! 59 product tax rebates canceled, 229 export tax rebate rates lowered, to be implemented on December 1!

2024-11-18

On November 15, the Ministry of Finance and the State Administration of Taxation announced significant changes to the export tax rebate policy, affecting 59 products by canceling their rebates and lowering rates for 229 others, including solar energy and batteries. This update aims to promote technological innovation, enhance global competitiveness, and foster green, low-carbon industrial development. Effective from December 1, 2024.

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POSCO considers selling only steel plant in China

2024-11-14

POSCO Group is contemplating the sale of its POSCO Zhangjiagang Stainless Steel plant in China, a joint venture established in 1997, as part of its strategic restructuring plan. The decision to sell the plant, which has been incurring significant losses, is driven by the oversupply of stainless steel in the Chinese market and ongoing losses.

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Trump’s return brings mixed sentiments for steel industry

2024-11-13

With Trump’s return to the White House, his tariff policies against imported goods, especially from China, are expected to reshape the global steel trade landscape. This article explores the mixed sentiments within the steel industry, from potential price hikes due to tariffs to hopes for post-war reconstruction and economic recovery in Europe.

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