Russian Copper Company (RCC) and Chinese firms have been trading in new copper wire rod disguised as scrap to avoid taxes and avoid Western sanctions. The wire rod is shredded in the Xinjiang Uyghur region by an intermediary, allowing both exporters and importers to profit from differences in tariffs applied to scrap and new metal. Russian export duty on copper rod was 7% in December, lower than the 10% levy on scrap. Chinese customs data shows China has bought significantly more copper scrap from Russia since December, while Russian figures show negligible scrap exports.
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