Recently, there are signs of aluminum rebound, mainly due to China's cancellation of export tax rebates for aluminum and copper materials.
The impact of China's cancellation of export tax rebates on aluminum is higher than copper. This cancellation of export tax rebates for aluminum materials may increase the export costs of aluminum export enterprises to a certain extent, suppressing the enthusiasm of China's aluminum processing enterprises for export.
The reduction in China's aluminum exports will affect the global supply of aluminum. When demand remains the same and supply decreases, the price of aluminum will rise. This will be a good thing for PMetal in Malaysia and LBALUM.
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