China lowered import quotas of copper scrap and aluminium scrap to 4,620mt and 1,440mt, respectively in the third batch of approvals announced in the first quarter of 2020.

 

The total import quotas for the first quarter added up to 302,071mt for copper scrap and 284,449mt for aluminium scrap, following the third batch of quotas announced on Wednesday. Chinese authorities permitted 452,559mt of copper scrap and 372,476mt of aluminium scrap into the country in the third quarter of 2019, which was the first time import quotas were implemented. In the fourth quarter, import quotas fell to 108,103mt for copper scrap and 101,489mt for aluminium scrap.

 

Only two companies received permits to import aluminium scrap – Jiangsu Huilian Aluminum Industry, which can import 770mt of aluminium scrap at Taicang port, and Zhejiang Jinyun Renewable Resources, which can import 670mt of aluminium scrap at Ningbo Port.

 

Twelve companies received permits to import copper scrap, of which the Hengji Group can import the largest volume of 2,320mt copper scrap landing at Shanghai Port, followed by Ningbo Xingoda Metal, which can import 600mt of copper scrap at Ningbo Port.

 

China is expected to ban imports of scrap metal by the end of 2020. The country, however, announced at the end of January, a list of high-grade copper and aluminium scrap that will be reclassified as resources and will be permitted into China without any import restrictions starting July 2020, providing respite to Chinese metal producers and scrap metal sellers across the world.

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