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China issues new import quotas for metal scrap


China has massively reduced the tonnage of foreign metal scrap it will allow to enter the country under the latest import quota allocation, the tenth awarded so far this year, Mysteel Global notes from a release by China Solid Waste and Chemicals Management, the country’s import window for ferrous and nonferrous scrap. In fact, the quota volume is too small to mitigate the shortage of metal supplies prevailing in the domestic market, sources remarked.
The bulletin issued by China Waste Management on July 24 showed that 23 domestic companies were approved to import just 10,110 tonnes of copper scrap, much lower than under the ninth quota allocation of 176,746 tonnes awarded on July 6, Mysteel Global notes. In parallel, five domestic enterprises were awarded


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