China issued 5th batch of copper scrap import quotas for 2020

Published: Apr 13, 2020 10:55 (GMT+8)

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However, concerns about supply shortage sustain due to the disruptions to global copper scrap supply chain amid the coronavirus epidemic. Allowances in the first five batches this year amounted to 527,700 mt, which translate to 422,100 mt in Cu content based on an average grade of 80%.

SHANGHAI, Apr 13 (SMM) – China's environmental authorities on April 10 issued the fifth batch of copper scrap import quotas for 2020, with the volumes surging from the previous batch. However, concerns about supply shortage sustain due to the disruptions to global copper scrap supply chain amid the coronavirus epidemic.

The China Solid Waste and Chemicals Management Bureau, a unit of the Ministry of Ecology and Environment, granted import allowances for 222,020 mt of high-grade copper scrap to over 140 importers in the latest release, compared to 3,520 mt in the fourth batch.

Allowances in the first five batches this year amounted to 527,700 mt, which translate to 422,100 mt in Cu content based on an average grade of 80%. This could roughly meet domestic demand in the first four months of the year, given the fact that China imported 425,600 mt in metal content of copper scrap in January-April 2019, according to customs data.

The relatively sufficient volumes of import quotas may unlikely to address supply tightness of copper scrap in China in the near future as the COVID-19 pandemic has triggered lockdown and operation suspension of key copper scrap suppliers in South-east Asia and Europe and this left Chinese importers uncertain over future supply.

Market commentary Copper scrap Import quotas

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