The China Solid Waste and Chemicals Management Bureau will allow up to 275,465 tonnes of aluminium scrap shipments into the country in the first batch of import quotas for 2020.
The volume is significantly higher than for December, which was set at 9,844 tonnes of aluminium scrap - down from 13,770 tonnes in the previous quota. This, in turn, was less than the 44,935 tonnes issued in October.The increase in the amount of imported aluminium scrap permitted at the start of 2020 follows a surge in the aluminium ingot ADC 12 spot (MJP), cfr Japan price. The assessment has risen continuously over the fourth quarter to $1,650-1,670...