China recently announced ease of import restrictions on aluminum and copper scrap, which was believed to boost domestic aluminum and copper demand, while logistics, costs, and customs clearance are still obstacles.
Mingtai Aluminum said the policy would stimulate demand for recycled aluminum and alloys, forecasting China’s recycled aluminum imports to surpass 1.8 million tons this year.
In addition, Zhejiang Cangen Intelligent Technology thought new import category of brass scrap brings profits to the copper industry.
Discounts on scrap copper imports have decreased due to a tight supply of scrap copper and insufficient copper concentrate, and aluminum scrap is also in fierce competition. Besides, owing to customs clearance delays, China’s non-ferrous scrap importers also face rising costs. Therefore, several Chinese enterprises started to build preprocessing bases in other countries to address these problems.
China’s aluminum & copper demand to rise on eased import restrictions
12 Nov 2024 15:17 reported by Joy Liu
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