China’s Invoice Crackdown Disrupts Copper, Aluminium, Silver Trading in Shanghai Markets

• China’s tax authorities have launched a crackdown on circular invoicing in the metals market, targeting fraudulent trading.
• The probe has affected many copper, aluminium, and silver traders in Shanghai, leading to severe reductions in invoicing quotas.
• Many firms have paused business and physical trading activities have slowed, with spot copper trading volumes dropping significantly.
• Market participants fear the tightened quotas are impacting legitimate trading and real-world metal flows.
• The crackdown also affects other industries, but the copper market has been hit particularly hard.

Source: businesstimes.com.sg

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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