China's 4th batch of copper scrap import quotas for 2020 further shrank in volumes

Published: Mar 9, 2020 10:40

Save

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.

SHANGHAI, Mar 9 (SMM) – China's environmental authorities on March 7 issued the fourth batch of copper scrap import quotas for 2020, with the volumes further declining from the previous three batches.

The China Solid Waste and Chemicals Management Bureau, a unit of the Ministry of Ecology and Environment, granted import allowances for 3,520 mt of high-grade copper scrap to nine importers in the latest release, compared to 270,900 mt in the first batch, 26,600 mt in the second batch and 4,620 mt in the third batch.

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. Copper scrap supply will recover after copper prices halt declines and bounce back.

Market commentary Copper scrap Import quotas

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 min ago

Inventory Fell Sharply, Suppliers Actively Held Prices Firm, and Spot Premiums Continued to Rise [SMM South China Spot Copper]

1 min ago

12 mins ago

Sluggish Market Transactions, Spot Premiums Stabilized [SMM North China Spot Copper]

Spot #1 copper cathode in North China was quoted at a discount of 100 yuan/mt to a discount of 40 yuan/mt against the front-month contract today. The average price remained unchanged from the previous trading day, and the average transaction price fell by 10 yuan/mt from the previous trading day to 95,345 yuan/mt.

12 mins ago

59 mins ago

Price Increases in Petroleum-Based Raw Materials Are Being Passed Through, Affecting Demand for Enamelled Wire

According to SMM, prices of petroleum-based basic chemical raw materials such as styrene and propylene have risen sharply recently, significantly driving up the costs of engineering plastics for home appliances such as PP and ABS. Coupled with shrinking demand from the Middle East, air-conditioner manufacturers' willingness to stockpile and produce has weakened markedly, and softer demand from the home appliance sector has directly dragged down overall demand for enamelled wire.

59 mins ago