China's restriction on copper scrap imports could remove up to 500,000 tonnes of copper equivalent from the market this year, Jiangxi Copper's brokerage arm said on Saturday January 13.
Jinrui Future, Jiangxi Copper's fully owned subsidiary, estimates that 45% less copper scrap will be brought into China in 2018 compared to a year ago. While low-grade category 7 copper scrap imports, including scrap cable, scrap wire and scrap auto parts, are expected to decline 60% on an annual basis, according to the research report. The forecast came after Beijing issued substantially less copper scrap import licenses in the first two rounds of 2018...