Copper prices have surged in recent months as China has ramped up consumption and other countries have followed. Supplies that were depleted as producers shut down at the onset of the COVID-19 pandemic are also increasing as economies gradually reopen. As recently as early August, the London Metal Exchange (LME)…
Quotas Impacting China’s Copper Scrap Imports
China’s new import quotas on copper scrap will further limit export opportunities for US recyclers. Continuing its efforts to protect its environment by keeping foreign rubbish out, China restricted imports of eight additional types of scrap metal, including high-grade copper, as of July 1. Importers must prove that they can…
Progress in U.S.-China Trade War May Help Copper Prices
President Donald Trump’s decision to delay an increase in tariffs on Chinese exports could indicate that the end of a trade dispute that has disrupted the scrap industry may be nearing. A deal could help copper prices, which have struggled as the U.S. and China have exchanged tariffs in a…
China Drives Out Copper Processors
China’s clampdown on copper imports is driving processors to other Asian countries. Exports could follow. Suppliers and processors of scrap copper have sought opportunities elsewhere since China lowered the permissible contaminant threshold for copper imports to 1 percent. Seeking to protect its environment and improve its domestic recycling efforts, China…
China’s Plastic Imports Shrink
China is projected to import less than 1 percent of the scrap plastic that it did in the first quarter a year ago. In issuing its first round of import permits for 2018, China established a total limit of 9,335 tons of scrap plastic, which was 99 percent less than…
Trump Gets Aluminum Report
President Donald Trump has three months to determine how far he will go to protect U.S. aluminum producers. Trump could levy tariffs or impose quotas if he were to determine that doing so would be in the interest of national security. Federal investigators for the Department of Commerce submitted the…
China eases scrap ban
China’s recent announcement that it will not be as strict in banning scrap materials as it once indicated has not resolved the recycling industry’s concerns. Officials still worry that the tightening of scrap supplies to China could affect the industry worldwide. China’s move to ban or reduce its paper and…
Nonferrous Exports Surging
Exports of nonferrous scrap have boomed this year. Nickel, copper, and aluminum have been particularly strong. Nickel exports were 31% higher through the first eight months of 2017 than in the same period a year ago. The nickel waste exported totaled $80.5 million through August of this year compared to…
China Scrap Ban Looms
China intends to ban certain scrap from being imported, citing environmental concerns. Recycling industry leaders expect more bans to follow. The impact of restrictions could be significant for US recyclers because China is the largest receiver of exported scrap commodities. Scrap organizations are on edge. On July 18, the Institute…