NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2006/12/22 - The EU (European Union) will cut 3% tariff on the imports of aluminum next month (i.e. from January1, 2007), so that shipments from Russia can be augmented. Thereby, safeguarding interests of the producers in the European Union including the Alcoa.
After Poland's demanded respite for the importers, EU intends to lower the excise on pure primary aluminum, which was set at 6% for the last ten years, to 3% from January 1, 2007. The proposal of EU will be a "primary step" to alleviate the burden on importers. The respite will be a compromise, leaving intact the import duty on alloyed version of aluminum.
Of about 2.3 MMT (Million Metric Tons) of unalloyed aluminum imported by the EU last year, nearly one Million Tons were subject to 6% duty. Most of the imports in that year came from Russia. Respite for Poland over import tax on aluminum could help in resolving a separate Russia-EU trade issue, say experts.
As per a Research Analyst's view at RNCOS, who has recently researched a report on "European Aluminum Market (2007)", "European importers of aluminum will probably delay shipments till the time tariff reduction comes in effect and that will likely create a short period of tightness in aluminum supply in this region."
This research reports on "European Aluminum Market (2007)" also addresses some interesting issues for today's Global business environment, such as:
- Pinpoint sectors of growth and identify the driving factors
- Get an insight into the trends in market performance
- Identify market, brand leaders, and understand the competitive environment
- The success factors of European Aluminum Industry
- Key Challenges and Strategies
About the Report
The report provides extensive research and objective analysis on the Aluminum Market, its performance and future prospects. It helps clients to analyze the trends and developments in Global Aluminum Market as well as gain exclusive insights of Aluminum industry in six important countries namely Germany, France, Italy, UK, Norway and Russia.
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