China’s Aluminum Set to Worsen Glut as Export Taxes Removed
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China, the world’s largest aluminum producer, may worsen a global glut of the metal as the government scrapped export duties for some products.
The removal of fees to ship certain aluminum products may encourage further exports from the country that accounts for about half the world’s production. Global prices may sink as the move encourages producers to shift China’s aluminum glut overseas, according to Bloomberg Intelligence.