SHANGHAI, Jun 4 (SMM) – China’s copper scrap imports are likely to remain at low levels in May as Chinese authorities imposed broad-based inspections on all scrap materials from the US from May 4, SMM believed.
China imported 180,000 mt of copper scrap in April, down 36.7% year on year and 19.3% month on month, according to data from Chinese Customs. This marked a third low in the past 20 years, higher than the Chinese New Year period in February 2018 and 2016. In the first four months of this year, overall copper scrap imports shrank 38.5% on the year and came in at 740,000 mt.
Copper scrap imports flowing in through Ningbo port accounted for 49% in March of overall volumes, compared to an average of over 20% in 2017. Approved copper scrap imports by companies in Taizhou and Ningbo in Zhejiang province amounted to 82% of the overall copper scrap imports approved in the 13 batches so far this year, and this accounted for the sharp increase from last year.
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