Imported Copper Scrap Popular on China Crackdown on Fake Invoice, SMM Reports

SHANGHAI, Jul. 31 (SMM) - Imported copper scrap market witnessed brisk sales last week after crackdown on fake VAT invoice in some regions by Chinese government, SMM understands.

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Demand for copper scrap with VAT invoice strengthened after Jiangxi and Anhui cracked down on fake VAT invoices. Purchasing cost for VAT invoice grew to 8.5-9% of a 17% VAT, SMM learned.

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