Supply of Copper Scrap with Invoice Tightens Further as Fake Invoice Crackdowns Continue, SMM Says

Published: Aug 7, 2017 14:32

Save

Supply of copper scrap with value-added tax (VAT) invoice is becoming increasingly tighter as crackdowns on fake VAT invoice are still under way in Jiangxi and other regions, SMM survey showed.

SHANGHAI, Aug. 7 (SMM) – Supply of copper scrap with value-added tax (VAT) invoice is becoming increasingly tighter as crackdowns on fake VAT invoice are still under way in Jiangxi and other regions, SMM survey showed.

Why Sellers Dominate in Shanghai Imported Copper Market? SMM Reports

Traders were forced to cut prices of copper scrap without VAT invoice. VAT invoice purchasing costs have reached 9% of copper scrap sales value, SMM learned.

Overall, copper scrap supply increased, though, as cargo holders became more willing to sell after copper prices rose.

Prices for #1 bare bright copper averaged 48,077 yuan/tonne last week, up 1,001 yuan/tonne on a weekly basis.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

China copper scrap supply

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Data: SHFE, DCE market movement (Jun 03)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 03 Jun , 2026

1 hour ago

Konkola Copper Mines (KCM)'s Nchanga Smelter Began a 60-Day Production Shutdown for Maintenance

Konkola Copper Mines (KCM), a subsidiary of Vedanta Resources, announced on Tuesday the official commencement of a planned 60-day maintenance shutdown of the Nchanga smelter in Zambia, with production expected to resume in August 2026. The maintenance aims to enhance equipment reliability and long-term efficiency. During the shutdown, KCM will ensure continued production at the SX-EW Tailings Leach Plant (TLP) through external acid procurement and its own 500 mt/day acid plant. According to SMM, the Nchanga smelter currently has a smelting capacity of approximately 150,000 mt/year and plans to reach 300,000 mt/year by 2030.

1 hour ago

2 hours ago

Huanghe Company Saikun ESS Power Station Put into Operation

The 50 MW/100 megawatt hour Saikun ESS power station, supporting Huanghe Company's 500,000 kW Mangya wind power project in Haixi Prefecture, was officially connected to grid and put into operation, marking the on-schedule achievement of the construction and commissioning target for the company's first energy storage project deployed in Haixi Prefecture.

2 hours ago