China to raise export rebate for some nonferrous metals, report

Chinese government will adjust by a big range the import and export duties for some nonferrous metals in line with the draft of Adjustment and Development Plan for China's Nonferrous Industry, China Business News reported.

According to the draft, average export rebates for high-elegant copper tube, high-elegant copper plate and stripe, high-grade aluminum foil, high-grade aluminum formation products, high-grade aluminum plate and stripe will be raised from 5 percent to 13 percent.

Export rebate rate for deep-processed products, which can replace part of imported ones, will be raised to 17 percent.

Aluminum alloy formation products will receive an export rebate of 5 percent for the first time.

Export duty of aluminum alloy poles with section circumference of under 210mm will be cut from 15 percent to 5 percent.

The draft says domestic consumption of aluminum products won't shrink under the related bailout plans, but the growth rate may decrease.