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An inverted duty structure refers to a situation where taxes on input items are higher compared to the final product resulting in a drag in export competitiveness.
To better meet the needs of its clients and to stay in tune with the market, SMM will be introducing CIF (Cost, Insurance, and Freight to China) pricing for copper scraps. This includes but isn't limited to imported #1 copper, #2 copper, #1 copper granule, and #2 copper granule. These prices will be officially available on the SMM website (smm.cn) from September 1, 2023.
US International Trade Commission data for the first half of 2022 shows a shifting of exports from the US, with imports to China growing while imports to Malaysia sharply fell. While other countries also experienced changes in import numbers, exports to Malaysia and China saw dramatic changes to quantities and market share due to changing import regulations over the past several years.
China bought significantly more copper scrap in the form of recyclable copper material last year, despite supply disruptions stemming from regulation changes in Malaysia and Europe.
China bought significantly more copper scrap in the form of recyclable copper material last year, despite supply disruptions stemming from regulation changes in Malaysia and Europe.