There will be a massive influx of copper scrap to China in the first half of this year, with market participants hurrying to secure material before the country steps up its clampdown on scrap imports in the latter half, a BMO Capital Markets analyst said.
China will restrict the importing of copper scrap classified under HS code 7404000090, including category 6 copper scrap which does not require dismantling, with effect from July 1, 2019, the Ministry of Ecology and Environment said in late December. Category 6 copper scrap is ready for industrial use and includes No1 and No2 copper scrap with copper content of up to 96%, such as birch and cliff. Category 6...