China issued the ninth batch of scrap import quotas on July 6, approving 209,660mt of aluminium scrap imports and 176,746mt of copper scrap imports.
The country’s Solid Waste and Chemical Management Bureau approved the first batch of scrap quotas for the third quarter (July-Sept), eagerly awaited by Chinese buyers who had exhausted their import quotas a few weeks ago.
The approved quotas also provided relief to sellers who had initially expected to sell high-grade scrap according to renewed standards starting July. The Chinese government, however, postponed the implementation of renewed standards to later in the year.
This is the largest scrap quotas since April. The total scrap quotas for the year 2020 now add up to 718,500mt of aluminium scrap and 693,659mt of copper scrap.