China has issued its 12th batch of non-ferrous scrap metal import quotas for 2020, with a much larger volume of copper scrap being approved to enter the country than in the previous two rounds of quotas. The latest batch permits 136,335 tonnes of copper scrap to be imported into China, the China Solid Waste & Chemicals Management Bureau said on Thursday September 17.
Most trade associations reacted positively to the surprise announcement on Tuesday September 15 that the United States was removing tariffs on aluminium imported from Canada, but some took issue with the quota system that has taken its place.
The United Arab Emirates Ministry of Economy has extended the ban on exports of steel and paper scrap from the country for a period of four months, the ministry said on September 13.
South American steel import prices rose during the week September 18 with deals reported at higher levels. But new offers, particularly from China, were lower, indicating that the recent price uptrend was slowing down, market participants have told Fastmarkets.
The European charge and high-carbon ferro-chrome benchmark for the fourth quarter 2020 is $1.14 per lb, unchanged for the third consecutive quarter.
