Chinese Customs Data Reveals Drastic Decline in Ferrous Scrap Imports

SEATTLE (Scrap Monster): China Customs data published last week suggests drastic decline in ferrous scrap imports by the country during the opening month of 2019. The imports were down significantly upon comparison with the same month a year before.

According to Customs data, China imported 28,109 tons- the lowest level in the country’s history. Over the previous year, the imports were down by 71.8%. When compared with the prior month, the imports dropped by 75.7%. The country’s ferrous scrap imports had totaled 99,676 tons and 115,592 tons in Jan ’18 and Dec ’18 respectively. The sharp decline in import volumes is mainly on account of the tough restrictions imposed by the administration on solid waste imports into the country.

The primary source of ferrous scrap imports by China was South Korea. The Chinese imports from South Korea totaled 5,655 tons in Jan ’19, accounting for 20.1% share of the total Chinese imports. The imports from that country more than doubled when matched with the previous year. South Korean supplies had totaled 2,722 tons in Jan ’18.

The second largest source of import was Japan, whose supplies declined drastically by almost 96% from 87,090 tons in Jan ’18 to 3,720 tons in January this year. Japan accounted for 13.2% share of Chinese imports. In third place was Malaysia with total supplies of 2,201 tons. The imports from Malaysia skyrocketed by 770% year-on-year. The other major suppliers of scrap to China were Hong Kong (2,123 tons), Panama (2,003 tons) and Taiwan (1,559 tons).