Aluminum Prices Remain Flat Amid Anticipation of China’s Export Rebate Changes

Aluminum prices were flat in early Asian trade, with investors watching for the impact of China ending its export tax rebates on semi-manufactured aluminum products. Analysts from ANZ Research noted that Chinese fabricators have been rushing to export ahead of the upcoming rebate cut scheduled for December. Some shipments are being expedited at the request of foreign clients seeking early deliveries, while others are being sent to bonded warehouses at Chinese ports to benefit from current rebates.

As of early trading, the three-month London Metal Exchange (LME) aluminum contract remained steady at $2,644.00 per tonne.