On April 1, Wang Daoshu, Deputy Commissioner of the State Taxation Administration, said at a press conference held by the administration: the tax authorities had also achieved initial results in rectifying “circular invoicing” and “mutual invoicing.” China's data from the State Taxation Administration showed that from January 1 to March 25, invoicing amounts in the wholesale sector, where such enterprises were relatively concentrated, fell 2.6% YoY. Among them, invoicing amounts in the wholesale subsectors of coal and coal products, and metals and metal ore, declined 8.7% and 5.2% YoY, respectively.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 01 Apr , 2026