SunSirs: Argentina's Removal of Steel and Aluminum Export Taxes Has Limited Direct Impact on China

The Argentine government recently adopted a temporary policy to temporarily reduce export taxes on aluminum, steel, and their derivatives to 0%. The measure will take effect on October 9th and last until December 31st, or until importing countries' tariffs fall below 45%. The policy, which applies to products under specific tariff codes, such as steel plates, aluminum ingots, and alloys, aims to boost exports, increase foreign exchange reserves, and facilitate negotiations with trading partners.

Argentine media have reacted positively to the policy, stating that it will benefit aluminum and steel producers and enhance their competitiveness.

The removal of Argentina's export taxes is likely to stimulate domestic industry and influence international supply chains, but will have limited direct impact on China, as Argentina is not a major supplier of steel and aluminum to China (China will account for over 50% of global steel production and 60% of aluminum production in 2024).

As an integrated internet platform providing benchmark prices, on October 14, the benchmark aluminum price of SunSirs was 20,933.33 RMB/ton, up 0.96% from the beginning of this month (20,733.33 RMB/ton).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

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