United States Department of Commerce this week, two to be levied on China exports to the U.S. aluminum higher tariffs, as China-related companies to the U.S. The ratio of total output exported aluminum is not high, so do not expect much impact on listed companies, but Hong Kong shares of China Holdings Limited Chung Mong as a large manufacturer of industrial aluminum profile, by the impact of anti-dumping policy will face a certain pressure.

According to foreign news media yesterday, the U.S. Commerce Department ruled today might, on the import of aluminum in China is 550 million U.S. dollars in subsidies the Chinese government, the U.S. Department of Commerce on Chinese exports to the U.S. may thus have higher import tariffs aluminum. Penalty assessment results can be out in about a week, which could lead the United States next week on the implementation of China's aluminum and higher import tariffs. Then, the U.S. importer of Chinese aluminum required for the assessment of duty to deliver cash deposit or bond.

Guotai Junan Analysis Master Sang Yong Liang and Kang Kai has written that the anti-dumping is expected to lead to sharp drop in U.S. exports of aluminum, and therefore the overall exports. Before 2008,2009, South Africa, Canada, Australia, already has launched an attack on the Chinese aluminum industry. Anti-dumping investigations, China's exports to Canada and Australia fell significantly.

China U.S. exports of aluminum products primarily for building materials, a low-margin industry, if heavily taxed, would be little profit margin, so the implementation of anti-dumping duty, China's aluminum exports to the United States will fall sharply.

from China production point of view, the number of exports to the U.S. aluminum production accounts for only 1.6% of the country, the Chinese aluminum industry as a whole was less affected. China's aluminum exports account for 8.4% of total production, while exports to the U.S. production volume of only 1.6%. Therefore, the anti-dumping on Chinese aluminum industry as a whole has little effect. However, if taking into account the regulatory impact on Chinese real estate new home starts and the demand for aluminum, so the exit will be the worse of the factors is limited.

Guotai Junan Analysis Teachers believe that the U.S. tariffs on China Aluminum raise issues, the profitability of listed companies on the aluminum have indirect effects. A shares listed on the aluminum companies, exports are accounting for a large aluminum producers such as Lu Feng shares, the East the sun of aluminum, usually aluminum stock, Xinjiang public and so on; aluminum extrusion products companies, such as the pillars of the new material and Ropes gold, exports are very small. Therefore, the U.S. anti-dumping aluminum direct impact on listed companies are smaller. However, considering the large percentage of the original export company in exports will turn the domestic, to increase competition in China, will indirectly affect the profitability of listed companies.

while Chung Mong Hong Kong-listed China as the world's third largest at present, China's largest manufacturer of aluminum products, most affected by the anti-dumping policy, the United States is also one of its main export. In the face of U.S. anti-dumping investigation, the company started from April to stop exports to the U.S. strategic industrial aluminum products in the second quarter performance of the company affected has declined. Industrial aluminum profiles in the second quarter gross margin reached 44.9%, compared to 52.6% in the first quarter down, gross margin fell because the chain is mainly due to higher gross profit margin decline in exports of industrial aluminum products. In addition, Guotai Junan analyst pointed out that if future anti-dumping aluminum foil, then on the negative impact of China's listed companies will be more direct.

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