Shaanxi, Shanxi, Gansu, Sichuan steelmakers to cut production to support the market

[SMM Aluminum Flash] China's secondary aluminum ingot daily inventory in three major consumption areas stood at 13,153 mt today, down 20 mt WoW.

The EU's scrap export policy has taken another important turn. India, Thailand and Malaysia failed to meet environmental requirements in the European Commission's draft assessment covering metal waste, potentially preventing them from directly importing affected EU scrap streams once the new Waste Shipment Regulation takes effect. Under the WSR, exports of non-hazardous waste to non-OECD countries will generally be prohibited from May 21, 2027, unless the destination and specific waste streams are approved. The Commission's first final list is due by November 21, 2026, so a copper scrap ban is not yet confirmed.

[SMM Analysis: US Refined Copper Tariff Uncertainty Returns—What Does It Mean for Global Copper Scrap?] US refined copper tariff uncertainty is reshaping global copper flows. If tariffs proceed, a wider COMEX-LME spread could draw more cathode into the US and support scrap demand elsewhere. If delayed or cancelled, the spread may narrow and weaken scrap payabilities. However, low global scrap inventories and tight VAT-invoiced supply in China make a sharp correction unlikely.