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

Published: Jul 31, 2017 11:15

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

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.

Codelco Lowers Copper Output Estimation for Q2

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.

Spot TCs Stabilize for Imported Copper Concentrate, Two Influencing Factors Eyed, SMM Reports

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