China to Cut Copper Scrap Import Quotas by 50% in 2020

SEATTLE (Scrap Monster): According to market participants, China is most likely to cut copper scrap import quotas by 50% in 2020, upon comparison with the current year. The import quotas will be issued on a quarterly basis. The first batch is likely to be announced before end-2019.

The Chinese authorities have already published a list of companies who are permitted to apply for scrap import quotas in 2020. It shows little change from the 2019 list. No new companies have been added, sources said.

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According to China Nonferrous Metals Industry Association (CMRA) Recycling Metal Branch, there will be no more import quotas for the current year. A total of six batches were issued so far this year, allowing for imports of approximately 553,000 mt of copper scrap. The country has already imported nearly 516,000 mt until October this year. Going by this data, only around 37,000 mt of copper scrap are likely to enter the country during Nov-Dec ’19.

It must be noted that China targets to cut solid waste imports to zero by the end of next year.