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.
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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