China's non-ferrous scrap imports will come to a standstill in the next four months, because major buyers have used up their 2019 import quotas and new quotas are unlikely to be granted before the lunar new year in late January, industry sources have said.
Major Chinese non-ferrous importers have delayed further purchases of copper and aluminium scrap to February next year because they were worried about not receiving import permits."We are afraid that we won't be able to get import quotas in January, so the first 2020 cargoes have to come after the lunar new year holidays," a source with a Ningbo-based scrap importer said.In 2020, the first day of the lunar new year will be January 25, earlier than in 2019, 2018 and 2017. While this will mark the beginning of...