The Chinese government issued a new scrap metal import quota that approved about 70,000 metric tons of copper, aluminum and ferrous scrap arrivals for the remainder of 2019. According to a report from Argus Media, the additional quotas issued by China Solid Waste and Chemicals Management are for a combined 66,368 metric tons of copper, aluminum and ferrous scrap for delivery to ports in south and southeast China.
The extra quota for copper scrap, under harmonized tariff code 7404000090, is 31,658t. The quota for aluminum scrap, tariff code 7602000090, is 32,940t, and the quota for ferrous scrap is 1,770t.
The copper scrap quota is for delivery to the ports of Ningbo, Shanghai, Xiamen, Nanhai, Nansha and Xinhui, while the aluminium scrap quota is for Ningbo, Nanhai and Nansha.
The total of all copper scrap import quotas approved to date is 484,217t, with aluminum at 405,416t and ferrous at 22,688t.
The import quota for copper scrap is below the volume imported in the third quarter of last year, whereas the aluminum scrap quota is above the third-quarter figure, Argus said.
China imported 624,276t of copper scrap and 349,510t of aluminium scrap in July-September 2018, customs data show.
Under the new policy, all scrap metal importers in China will need import licenses issued under approved quarterly quotas before they can receive any material.
China imported 5.32mn t of scrap last year, of which copper accounted for 45pc, or 2.41mn t, alumnium 1.57mn t and ferrous 1.34mn t.
Published in the November 2019 Edition