Not just VAT refunds. China pay value add subsidies as well. Aluminium is 28%. Still trying to find out how much is paid as subsidy for value add to RE's. Little doubt it will be no less than the 28% paid for drilling a couple of holes in an Al extrusion. Value add for Nd, Pr and Fe to magnets no doubt similar or higher.
China is a BS economy. Primary objective is to keep the masses employed. Nothing new with the accelerator principle. Economics 101 and very well understood by the ruling masters.
LYC Price at posting:
$2.32 Sentiment: Buy Disclosure: Held
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