China issues import quotas for another 11,110 mt of copper scrap

Published: Nov 5, 2019 17:03
The latest batch of quotas shrank nearly 80% from the previous batch

SHANGHAI, Nov 5 (SMM) – China on Tuesday issued a fresh batch of import quotas for newly restricted high-grade copper scrap, cementing the fact that Beijing is sharply scaling back its openness to foreign wastes.

The China Solid Waste and Chemicals Management Bureau, a unit of the Ministry of Ecology and Environment, issued import quotas for another 11,110 mt of the so-called Category Six copper scrap to 21 companies in regions including major metal-recycling hubs such as Guangdong, Zhejiang, Jiangxi and Shandong.

The latest batch of quotas shrank nearly 80% from the previous batch, which was the first batch for the fourth quarter.    

China has granted six batches of import quotas of a cumulative total of 552,692 mt for Category Six copper scrap, which saw the import restrictions going into effect on July 1.

The latest two batches totalled 68,475 mt, accounting for only 14% of the combined total of 484,217 mt of the initial four batches which were mostly issued for the third quarter.

SMM expects copper scrap import quotas for Q4 to amount to 82,316 mt, or 17% of the amount for Q3. Quotas for the whole second half of 2019 are expected to reach 567,000 mt, containing about 453,000 mt of copper.

This will decrease some 270,000 mt in Cu content from the realised import volume of 723,000 mt in Cu content in the second half of 2018.

China’s imports of copper scrap in 2019 is expected to drop 160,000 mt in Cu content from 2018, with the import rush leading to a year-over-year increase of 110,000 mt in Cu content in the first half of the year.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
General Administration of Customs: China's Copper Cathode Imports Rose 7.99% YoY in May, Breakdown of Import and Export Data
7 hours ago
General Administration of Customs: China's Copper Cathode Imports Rose 7.99% YoY in May, Breakdown of Import and Export Data
Read More
General Administration of Customs: China's Copper Cathode Imports Rose 7.99% YoY in May, Breakdown of Import and Export Data
General Administration of Customs: China's Copper Cathode Imports Rose 7.99% YoY in May, Breakdown of Import and Export Data
7 hours ago
GACC: China's May Copper Ores and Concentrates Imports Down 1.74% YoY, Breakdown of Import and Export Data
7 hours ago
GACC: China's May Copper Ores and Concentrates Imports Down 1.74% YoY, Breakdown of Import and Export Data
Read More
GACC: China's May Copper Ores and Concentrates Imports Down 1.74% YoY, Breakdown of Import and Export Data
GACC: China's May Copper Ores and Concentrates Imports Down 1.74% YoY, Breakdown of Import and Export Data
7 hours ago
Cobre Panama copper mine is deemed generally compliant and is expected to resume production.
17 hours ago
Cobre Panama copper mine is deemed generally compliant and is expected to resume production.
Read More
Cobre Panama copper mine is deemed generally compliant and is expected to resume production.
Cobre Panama copper mine is deemed generally compliant and is expected to resume production.
Breaking News | SGS Audit Shows Cobre Panama Mine Compliance Rate Near 88%, Obstacles to Production Resumption Further Cleared On June 19, Panama's Ministry of Environment released the final audit report by Switzerland's SGS on First Quantum's Cobre Panama copper mine. The audit covered 370 commitments from 2019 to 2023, with an overall compliance rate of approximately 88%. Technical and operational standards scored the highest (90.20%), followed by environmental compliance. SGS pointed out that issues were concentrated in areas such as biodiversity management, and do not constitute structural deficiencies. According to SMM, maintenance of key equipment at the mine is proceeding normally. If the production resumption permit is granted, production is expected to resume at a relatively fast pace. The mine has been suspended since November 2023, with an annual capacity of approximately 350,000 mt of copper. The Panamanian government has established a cross-departmental working group to evaluate subsequent decisions.
17 hours ago
China issues import quotas for another 11,110 mt of copper scrap - Shanghai Metals Market (SMM)