Beijing, in the late last week, reportedly issued the second set of metal scrap import quotas for the fourth quarter of 2019, sharply reducing the permissible quantity.
As per the report, China’s Solid Waste and Chemical Management Centre will allow 44,935 tonnes more of 7602000090 aluminium scrap into its ports during the fourth quarter, bringing the total allowable imports to 77,875 tonnes. This amount is significantly below the 274,955 tonnes of imported aluminium scrap allowed into the Middle Kingdom in the previous quarter.
These quotas are for delivery to the ports of Ningbo, Nanhai and Nansha.
The decline in import quotas is estimated to continue to affect the country’s aluminium scrap market, especially thanks to weak inventories and stable orders by secondary aluminium producers. Meanwhile, overseas orders of aluminium alloy ingot are expected to help the situation to some extent. But experts foresee limited help for the tight aluminium scrap market through the end of the year.
In 2018, China imported 1.57 million tonnes of aluminium scrap, 2.41 million tonnes of copper scrap, and 1.34 million tonnes of ferrous scrap, totalling 5.32 million tonnes of scrap metal.
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