China’s export (and import) tariff schedule for 2015 has been released, but with no mention of any change to aluminium tariffs.
There had been a lot of talk in the market recently about the possibility that China would remove the 15% export tariff on raw aluminium. The rumours started in LME week, when one particular bank suggested in their client briefing that there was a 25% chance that the tariff would be removed. The rumour mill hit top gear a few weeks ago when a Chalco senior exec made a speech at a conference in China calling on the government to remove the tariff.
But there have also been several posts on this blog seeking to let you know it was all puffery. See here and here for example. In our private discussions with clients, we have been saying the same thing. The tariff will not be removed. And we were right.
We have more details in our World Aluminium Monthly, which is due out very shortly. If you are not a subscriber to the World Aluminium Monthly, contact us using the contact form below, and we will send you a sample copy. A 12-month single user subscription costs US$ 3900, but if you sign up this year, we will give you a 10% discount.
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