China's move to cut aluminum export rebates could boost Indian producers as global supply tightens.
China's plan to reduce or cancel tax rebates on aluminum and copper exports is expected to boost Indian aluminum producers like Nalco, Hindalco, and Vedanta. Shares of these companies rose by up to 10% on the announcement, as the move could tighten global supply, increasing demand for Indian products. This decision follows trade tensions and aims to address excess aluminum supply, leading to higher aluminum prices on the London Metal Exchange.
November 18, 2024
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