China's total Scrap imports reach 506,000 tonnes in July

Saturday, September 4,

China’s ferrous scrap imports totaled 506,000 tons in July 2010, down 61.0% from a year ago, when they increased by 56.6% from a month ago, an increase for the first time in four months, according to Chinese trade statistics made available in Tokyo.

In January-July 2010, China’s ferrous scrap imports totaled 3,563,000 tons, down 59.8% from the same period of 2009, translating into an annualized 6,110,000 tons, way down from a record total of 13,690,000 tons in 2009.

In the breakdown by main sources, Japan ranked first at 1,570,000 tons or 44.1% of the total, the USA second at 1,030,000 tons or 28.9%, Hong Kong third at 220,000 tons or 6.2%, and Australia fourth at 173,000 tons or 4.9%. As a result, Japan and the USA together accounted for 73.0% of the total.