Feb imports of copper scrap shrink 66.7%

The fluctuation band of aluminium scrap taint was 300 yuan/mt last week, while that of aluminium scrap tense was 200 yuan/mt. Poor sales at secondary aluminium producers pressured aluminium scrap prices. Import restrictions kept supply of aluminium scrap tense tight. Aluminium scrap prices will remain under downward pressure and the price difference between primary aluminium and aluminium scrap will continue to expand before the completion of the next pricing cycle of secondary aluminium in early April.

China imported 47,000 mt of aluminium scrap in October, down 40.4% on the month, and down 21.5% on the year, and imports totalled 680,000 mt in the first ten months of 2020, down 48% from the same period last year, the latest customs data showed. 

Leo Yi, senior analyst at SMM, explained the challenges posed by the new solid waste law to China’s aluminium scrap supply and operations at secondary aluminium producers

China approved just 121,000 mt of aluminium scrap for imports in its 12th batch of approvals, bringing the total approved amounts to 818,000 mt so far this year, according to the China Solid Waste and Chemicals Management.

China's environmental authorities on Monday issued the ninth batch of copper, aluminium and steel scrap import quotas for 2020, which was the largest since April.

The long-anticipated new standards for high-grade copper scrap and aluminium scrap metal—due to come into force on July 1–has yet to be implemented at China’s customs, as the procedure for importing material under these standards has not been finalised, SMM learned from several traders, fabricators and smelters.

Allowances in the first four batches this year amounted to 305,640 mt, accounting for 54.5% of the total 15 batches of import quotas in 2019, which stood at 560,600 mt. SMM expects the substantial amounts of import quotas so far this year to guarantee the domestic supply of high-grade copper scrap.

Car imports in China stood at 102,000 units in December, up 24% on the month

China last week issued a fresh batch of import quotas of 13,770 mt for newly restricted high-grade Al scrap

Imports may edge lower in Sep on rising concerns about a scale-back in Q4 quotas