Price fluctuations in the aluminum industry after the cancellation of tax rebates

Event: On November 15, 2024, the Ministry of Finance issued the "Announcement on the Adjustment of export tax rebate Policy", the announcement is as follows: Cancel the export tax rebate of aluminum and other products.There are a total of 24 aluminum-related codes for cancelling export tax rebates, almost covering the main domestic aluminum products such as aluminum profiles, aluminum plates and foils, and aluminum bars. Affected by this, the LME aluminum price rose 5.56% on November 15, and the SHFE aluminum price fell 1.63%. In the medium and long term, domestic aluminum prices still have upward momentum. Export tax rebates mainly adjust the price relationship at home and abroad, or have a limited impact on the global aluminum supply and demand pattern. If the aluminum price ratio continues to decline, domestic enterprises will also reduce the import of aluminum ingots, reduce the domestic supply re-repair ratio, reference June 21, 2007, the internal and external aluminum price ratio of 0.87, after a brief decline in August 8, 2007, re-repair to 0.87.
At present, the aluminum price from mid-December is low, and it is more friendly to customers. Customers in need can place an order in the near future.