According to the Zhitong Finance APP, cmru (01636) saw a rise of over 70% in early trading, with a cumulative increase of over 100% over the past two days. As of this report, it rose 73.63%, priced at HKD 0.158, with a trading volume of HKD 2.8247 million.

In terms of news, according to market reports, starting from December 1, China will abolish the export tax rebate policy for certain aluminum and copper products. The previous rebate rate, which was as high as 13%, will undoubtedly lead the industry to face significant changes in costs. As a result of the cancellation of the export tax rebate policy for aluminum products, combined with suppressed sentiment in alumina futures, aluminum prices in Shanghai have shown a general downward trend over the past two weeks. As of the close on November 26, the main contract for Shanghai aluminum 2501 closed at 20,560 yuan/ton, which has dropped nearly 6% from the high point at the beginning of the month.

Several industry insiders pointed out that the cancellation of the export tax rebate policy also reflects the industry's confidence in the strong overseas demand for copper and aluminum materials from China. In the long term, this policy adjustment will improve the previous situation of low-priced exports of China's basic energy materials, reducing the price gap between domestically produced and overseas products. The policy will likely accelerate the reshuffling of the copper and aluminum industries.

According to analysis by shanghai aladdin biochemical technology co.,ltd (ALD), the list of products for which the export tax rebate has been cancelled includes 24 tax numbers related to aluminum plates, aluminum strips, aluminum foils, aluminum pipes, aluminum pipe fittings, and some aluminum bars and profiles. In 2023, the total export volume of aluminum products affected by this cancellation of export tax rebates amounted to 5.2367 million tons, accounting for as high as 99.04% of the total aluminum export volume.