High aluminum price difference between domestic and foreign non-ferrous metal tax rebate rate or reduce

"Aluminum profiles with a value of 1 million tons, VAT 17%, the original tax rebate rate of 13%, can get about 110,000 tax rebate, and now the tax rebate rate is reduced by 4 percentage points, which means that every 1 million less than nearly 40,000 "In the face of news that the Ministry of Finance recently brewed down the export tax rebate rate for aluminum products to 9%, Zhang Guxiao said frankly that "the days are a bit difficult." As the owner of an aluminum extrusion production company in Shanghai, the news came out and he had already prepared for the sharp drop in orders.

According to Zhang Jian, a senior analyst at Shanghai Nonferrous Metals, who has been tracking the dynamics of the aluminum industry for many years, 13% is actually a high tax refund rate that was sustained during the financial crisis. “Considering the high price difference between aluminum at home and abroad and the determination to adjust the industrial structure in China. It is only a matter of time before the tax rebate rate is lowered. It is reported that the pressured non-ferrous metals will also include lead, zinc and stainless steel.

Lowering the tax rate into a fixed trend The reporter noted that the export tax rebate rate itself is a variable of policy regulation. “Before 2004, the export tax rebate rate for aluminum profiles was 15%, which was later reduced several times, and was lowered to 0 on July 1, 2007. By June 2009, it was affected by the financial crisis to subsidize Difficult enterprises, the export tax rebate rate once increased to 13%.” Zhang Hao told reporters that the current economic recovery in the context of reducing subsidies is the trend dictates.

“At present, there are quite a few surveys on China's aluminum exports against the 'double reverse'. On the one hand, it is aimed at the large number of domestic exports, and on the other, it is also aimed at a 13% higher tax rebate rate.” On the 29th of last month, the U.S. Department of Commerce The latest announcement of the final results of the anti-dumping anti-subsidy merger investigation of aluminum extrusions in China resulted in punitive tariffs imposed on the three companies.

However, for the industry impact, analysts believe that "more limited." “The reduction of orders by enterprises is inevitable, but domestic aluminum exports alone account for only 15% of all aluminum consumption, while aluminum profiles only account for 1/3 of aluminum exports, so the impact on the entire aluminum industry is small.” Zhang Hao said.