SHANGHAI, Aug 6 (SMM) – Some 9,899 mt of copper scrap, across three companies, received the green light in the 17th and latest batch of approvals for restricted solid scrap imports. This is according to the recent release by the solid waste management centre of China's Ministry of Ecology and Environment (MEE).
The 17th batch of approvals brought the total approved copper scrap imports this year to 725,300 mt, down some 76% from the volumes approved in 11 batches last year. The approved volume stood at 73,800 mt in the 16th batch released in mid-July.
SMM expects more approvals this year as the MEE releases approvals every quarter. The total approved volume is likely to be 60%-69% lower than last year, SMM forecasts.
As of August 6, approved copper scrap imports stood at 217,200 mt in the first quarter, 270,800 mt in the second quarter, and 237,300 mt in the third.
The top five companies with approved volumes accounted for half of total approvals. Four of them are located in Taizhou of Zhejiang province, SMM learned.