This is a rehash of a post earlier today. Announcement said...

This is a rehash of a post earlier today.


Announcement said
Delivery of refined copper product within mainland China is currently fetching significant premium to LME pricing for spot copper, recently quoted to the Company at US$8,400 per tonne, so remains a significantly attractive option.


This is from SHMET site

C. SHMET includes a 17% Value-Added Tax (VAT).

Here is the link if you want to check.
http://en.shmet.com/Price/shmet.aspx

So at the moment SHMET copper spot is around RMB 50,500 = US$ 8,220 Take off the 17% VAT and you have US$ 7,025 Current LME spot is US$7,040


note I got these prices from SHMET and LME today, CDU quoted US$8,400 . So current Shanghai not far off. So CDU price has to include VAT.

It was sometime ago I lived in a China, however I usually had to travel there at least once a year for the past few years and the finance guys in our plants tell me things are pretty much the same. There have been some reforms but more around services. And I looked up current VAT rules before I posted.