SHANGHAI, Apr 2 (SMM) – China has issued nine batches of approvals for restricted solid scrap material imports this year, with approved copper scrap imports of 337,900 mt, sharply down 88% from the same number of batches in 2017, SMM learned.
Taizhou Chiho was approved to import 111,000 mt of copper scrap in Batch One and Batch Nine, down 74% from the same batches of 2017. Zhejiang Judong was approved for 75,000 mt, which remained flat with the same batches of 2017.
Data from China Customs showed that copper scrap imports in the first two months of this year fell 40% year on year and stood at 330,000 mt in physical content. It remains unclear if copper scrap imports will rise or decline this year as there was an increase in Category Six copper scrap imports with a higher content of copper.
Limitations of impurity levels on imports of solid scrap material, that were implemented on March 1, had little impact on imports of copper scrap. SMM also does not expect costs accrued to companies to increase as the new regulations have greater impact on exporters than importers.
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