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Investing.com - A provisional anti-dumping duty by India on aluminum foil incoming from China would dent Chinese exports of the metal, according to data cited by analysts at BofA.
Recent media reports have suggested that the levy would place a charge of $619 to $873 per metric tonne on aluminum foil with a thickness of up to 80 micron either originating in or imported from China for five years. Aluminum foil below 5.5 micron for non-capacitor application would be excluded from the duty, The Economic Times has reported.
China exported 1.56 million tonnes of aluminum foil in 2024, among which 10% was sent to India, the BofA analysts said in a note to clients on Monday, citing Shanghai Metal Market data.
"According to SMM, [...] India’s anti-dumping measure would impact China aluminum export," the analysts led by Matty Zhao wrote.
Following preliminary findings, the duty is set to be in effect for six months as part of a bid by India to mitigate pressure on domestic producers from less expensive Chinese imports, The Economic Times reported.
The move comes as uncertainty around the global outlook for trade is rising as U.S. President Donald Trump threatens to roll out sweeping tariffs.
Markets are gearing up for April 2, when Trump is expected to unveil a new batch of levies that could upend longstanding international trading relationships.
Analysts have suggested that the day is shaping up to see a steep escalation of Trump’s push to rebalance the U.S.’s trading stance, a central focus of his administration since he returned to the White House for a second term earlier this year.
Trump, who has said the pronouncements will be part of what he has called "liberation day," is tipped to impose fresh duties on both friends and adversaries alike, including levies matching foreign tariff barriers.
His cabinet has said a group of at least 15 countries may be targeted, although a Wall Street Journal report said a greater number of countries was being considered. The report also said that Trump was considering a flat 20% tariff on all countries the U.S. has a trade deficit with.