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

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.