China's latest copper scrap import quotas shrank on-quarter

Published: Oct 18, 2019 14:19

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Approved volumes in the first issuance for Q4 stood only 24% of the Q3 counterpart

SHANGHAI, Oct 18 (SMM) – China granted the fifth batch of import quotas of 57,365 mt for high-grade Category Six copper scrap, following import restrictions on such materials on July 1.

This was also the first issuance on copper scrap imports for the fourth quarter, with volumes standing only 24% of the counterpart for the third quarter, indicating China’s tighter control on waste imports.

According to the list released by the Solid Waste and Chemical Management Centre on October 17, the majority of the quotas went to companies in the key recycling hubs of Zhejiang, Guangdong, Anhui, and Tianjin. A total of 71 companies, such as Ningbo Jintian, Zhejiang Judong, and Tianjin Xinneng, were covered.

Based on a grade of 80%, the approved volumes in the latest release translate to 45,892 mt in copper content, SMM assessed.

The five batches of approval so far allowed a total of 541,582 mt of copper scrap to enter China, which equates to 433,266 mt in Cu content, according to SMM calculations.

Awarded volumes for copper scrap imports in the first four batches were in a downward trend, standing at 240,429 mt, 124,450 mt, 87,680 mt, and 31,658 mt, respectively.

Market commentary Copper scrap

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