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Expected tightening of subsequent approvals for the issuance of the sixth batch of Copper scrap documents in 2020
Apr 23,2020 17:29CST
The content below was translated by Tencent automatically for reference.

SMM4, 23 April: solid waste Center announced on 23 April 2020 the sixth batch of import restrictions application details (see table below), this time approved a total of six copper-related enterprises, approved imports of 2150 tons, the quantity is relatively small, more than 90% landed in Jiangxi region.

In 2019, there were seven batches of copper scrap approval documents totaling 560700 tons, while the total number of scrap copper import approvals for the first six batches this year was 529800 tons, accounting for about 94 percent of last year's. Moreover, the export of waste copper in Southeast Asia, Europe and the United States has recovered slowly, and there are concerns that the approval documents will not be used up in the market. In addition, the policy of renewable copper resources began to be formally implemented on July 1, 2020, so no matter from the amount of approval, or from the time node, the amount of subsequent approval should not be too much, and will continue to shrink. It is also more in line with the policy planning that the Recycling Association said at its CMRA meeting in November that the first batch of scrap copper approvals would be relatively generous in the first quarter of 2020, followed by a gradual tightening of policy planning.

"[SMM analysis] it is obvious that the import approval document idling electrolytic copper rod replaces the scrap copper rod.

"[SMM analysis] the fifth batch of copper scrap has been approved in sufficient quantities, but it is difficult to ease the shortage of supply when many countries close their borders.

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