China’s Jan-Aug ‘17 aluminium scrap import swells 15% YoY; import by agents to be banned in 2018

According to a Shanghai Metals Market report, 2018 onward, Chinese traders will lose their qualifications to purchase aluminium scrap from international market as import agents. Both the aluminium scrap recycler and the consignee must be the same as per domestic consignee certificate, and the importer and recycler must be the same in importer licenses, a new circular said.

SMM observed that this may force domestic traders in the aluminium scrap market to eventually turn to matchmaking businesses. However, secondary aluminium producers having import licenses will remain largely unaffected. China is one of the top aluminium scrap importing countries in the world and a major consumer of imported Zorba. During January-August 2017, its total aluminium import increased by 15.3 per cent year-on-year reaching 1.4 million tonnes.

In August, China’s aluminium scrap import fell by 12 per cent YoY. The volume totalled 171,008 tonnes as compared to 191,529 tonnes in July 2017. The country imported maximum volume of aluminium scrap from the U.S (47,121 tonnes), followed by Hong Kong (31,226 tonnes), Thailand (21,519 tonnes), Australia (17,971 tonnes), the Philippines (12,907 tonnes), and the UK (9,864 tonnes).

As on September 30, China’s total import of goods has increased 19.5 per cent compared with corresponding period previous year (calculated by RMB). The estimated figure is around 16.5 per cent against the previous figure of 14.4 per cent.

China’s trade balance reached RMB 193 billion (calculated by RMB). The anticipated figure is 266.05 billion and the previous figure is 286.5 billion, SMM reported.