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.
Tens of thousands of residents from Haimen, China, who protested the construction of a coal-fired power plant earlier this week, are now being arrested.
Protesters are worried that the plant will pollute water and damage business. Residents took to the highway to highlight their cause, where they were later dispersed by police using tear gas.
AP reports that plainsclothes policemen are arresting organizers, and the local government is clamping down on further protests.
China has notoriously bad air quality. ChinaMusings reports that the U.S. Embassy, which provides air quality updates through its Twitter feed, reported an air quality reading over 500, an air quality reading that is “off the charts” and 20-times above safe levels for breathing.
