SMM7, 30th, news:
According to SMM statistics, in June 2019, China imported a total of 186900 physical tons of scrap copper, a decrease of 16.82 percent over the same period last year, with an average copper grade of 80.42 percent, equivalent to 150300 tons of metal, an increase of 35.70 percent over the same period last year. In June alone, imports of scrap copper increased by nearly 40,000 tons from a year earlier.
Combined with the statistical data from January to May, in the first half of 2019, China imported a total of 921300 physical tons of scrap copper, with an average grade of 79.43 percent, converted to 731900 tons of metal, an increase of 106200 metal tons over the same period last year. Fears of a shortage of imported scrap copper were further lifted in 2019.
Since 2019, the import of seven types of scrap copper has been completely banned, and customs inspection of imported scrap has become stricter, resulting in a sharp rise in the grade of imported scrap copper. With the strictness of the scrap import policy, although the physical amount of imported copper scrap decreased significantly compared with the same period last year, the amount of imported copper scrap metal increased rather than decreased in the first half of the year, and the increment was obvious.
Since July 1, 2019, the policy of converting six categories of scrap to restricted import of scrap copper has been formally implemented. Since April, companies have increased imports of scrap copper under the effect of snatching imports. According to SMM statistics, in the second quarter, China's imports of scrap copper increased by nearly 120000 tons compared with the same period last year, completely making up for the shortage of imported scrap copper in the first quarter. As a result, there was no shortage of imported scrap copper in the first half of the year.
(SMM Wei Xue)
