Aluminum price soars as China cancels tax incentive on exports
The export tax rebate was also removed for copper and lowered for some refined oil, solar, battery and non-metallic mineral products.
China will increase a tax on rare earths from April 1, the official Xinhua News Agency said on Thursday.
The State Administration of Taxation website carried a local media report, saying the resource tax would be raised to 30-60 yuan per tonne, depending on the type of rare earth mineral, a substantial increase from the current level of 0.5-3 yuan per tonne.
