Silver Monitoring Thread £ (GBP) only.

[theman73]

32 minutes ago, FriedrichVonHayek said:

You would think even when you factor in transportation costs a refinery would easily make at least 7% by shipping it to China.

VAT? Custom tax?

[FriedrichVonHayek]

1 hour ago, theman73 said:

VAT? Custom tax?

I don't know what the tax and customs charges are for China.

I would assume if they want the metal that will all be waived.

[theman73]

10 minutes ago, FriedrichVonHayek said:

I don't know what the tax and customs charges are for China.

I would assume if they want the metal that will all be waived.

Nope

''The standard VAT rate in China is 13%, which applies to most taxable goods except agricultural and utility items.''

Plus custom tax

[FriedrichVonHayek]

31 minutes ago, theman73 said:

Nope

''The standard VAT rate in China is 13%, which applies to most taxable goods except agricultural and utility items.''

Plus custom tax

Makes no real difference, as there is still an arbitrage after all costs are taken into consideration.

[Silfrfish]

41 minutes ago, theman73 said:

Nope

''The standard VAT rate in China is 13%, which applies to most taxable goods except agricultural and utility items.''

Plus custom tax

So, no tax on silver they buy in for solar ‘farms’? 🧐😉

[Petra]

The Chinese are scooping up silver like lots of other metals around the world so they can flood the markets with cheap EVs, solar products etc. so as to stiff the Western companies and economies 

[theman73]

1 hour ago, Silfrfish said:

So, no tax on silver they buy in for solar ‘farms’? 🧐😉

Of course there are taxes

[Silfrfish]

22 minutes ago, theman73 said:

Of course there are taxes

Yes I know, I was playing the fool a little bit! When Chinese companies import materials the VAT paid is then deductible from the output VAT, so they are set up somewhat to play the game as Petra suggested. Companies use the ECR, exemption credit and refund method to do this
from memory. A while since I bothered looking into it all though as taxes can make my blood boil 

 

 

[bobski]

Live Silver Price UK in GBP per Ounce

Ag

Current Price

£22.54

Live Change

0.00% £0.00

Live high £22.54

 

Live low £22.52

[bobski]

Live Silver Price UK in GBP per Ounce

Ag

Current Price

£22.60

Live Change

0.11% £+0.02

Live high £22.60

 

Live low £22.58

[bobski]

£22.68

[Petra]

£22.54🤔 floating around this price… the new normal price range🤔

[bobski]

Live Silver Price UK in GBP per Ounce

Ag

Current Price

£22.61

Live Change

-0.10% £-0.02

Live high £22.63

 

Live low £22.60

[ccfcpaul]

Silver seems up and down the a yoyo today

[Chronos]

US Producer Prices Accelerating At Fastest Rate In 12 Months:

https://www.zerohedge.com/economics/us-producer-prices-accelerating-fastest-rate-12-months

[bobski]

Live Silver Price UK in GBP per Ounce

Ag

Current Price

£22.74

Live Change

0.00% £0.00

Live high £22.74

 

Live low £22.74

[bobski]

Live Silver Price UK in GBP per Ounce

Ag

Current Price

£22.67

Live Change

0.12% £+0.03

Live high £22.70

 

Live low £22.64

[Happypanda88]

On 13/05/2024 at 19:53, Petra said:

The Chinese are scooping up silver like lots of other metals around the world so they can flood the markets with cheap EVs, solar products etc. so as to stiff the Western companies and economies 

That's a very simplistic view of the global market. If what you say is the case, then why can't the western companies buy up silver and mass produce EVs and solar products cheaply ?

Are there any other factors that you have missed off which causes EV and solar manufacturers based in the West just can't not compete? 

[FriedrichVonHayek]

On 13/05/2024 at 11:27, theman73 said:

Nope

''The standard VAT rate in China is 13%, which applies to most taxable goods except agricultural and utility items.''

Plus custom tax

Is there a customs tax if a Chinese citizen buys Gold and Silver from Hong Kong or Singapore?

Edited May 15 by FriedrichVonHayek

[Petra]

3 hours ago, Happypanda88 said:

That's a very simplistic view of the global market. If what you say is the case, then why can't the western companies buy up silver and mass produce EVs and solar products cheaply ?

Are there any other factors that you have missed off which causes EV and solar manufacturers based in the West just can't not compete? 

Try production costs to start with in the west compared to China. Sometimes simple views are the obvious and not far out🤔

[theman73]

35 minutes ago, FriedrichVonHayek said:

Is there a customs tax if a Chinese citizen buys Gold and Silver from Hong Kong or Singapore?

Yes if they take the silver to Shanghai

[bobski]

£22.77

[FriedrichVonHayek]

13 minutes ago, theman73 said:

Yes if they take the silver to Shanghai

According to the Duty Calculator that I used the Customs charge was 0% and the VAT was 13%.

It could be wrong I suppose.

[FriedrichVonHayek]

Shanghai

15 May 2024 

PM USD 31.73

AM USD 31.73

[Stacktastic]