Three Chinese scrap metal products and recycling companies located in East China have recently secured limited quotas allowing them to import a total of 2,670 MT of ferrous scrap for 2020, according to the latest bulletin released on February 5 by China Solid Waste and Chemicals Management, the state-backed conduit regulating the import of waste materials under the Ministry of Economy and Environment.
The allocation is the third round of quotas China has issued for this year and under it, two approved companies from East China’s Zhejiang province – Taizhou Yize Metal Products Company and Taizhou Yixuan Metal Company – are permitted to import steel scrap through Ningbo Beilun Port and Shanghai Waigaoqiao Port. The total quota is 550 MT.
The third company, Jiangsu Tiangong Tools Company, in East China’s Jiangsu province, secured the largest import quota of steel scrap at 2,120 MT. Within the total, 1,520 MT are permitted to enter China via Waigaoqiao and another 600 MT via Shanghai Yangshang Port, Mysteel Global noted.
Prior to China Waste Management’s announcement on February 5, six scrap processors had secured import quotas for steel scrap totalling 3,180 MT this year, with all these six companies granted permission in early-February, as reported.
China’s central government has been making efforts to restrict “foreign garbage” flowing into the domestic market and has been tightening solid waste material imports since the end-2016, aiming to reduce such shipments to zero by the end of 2020, as reported. Beijing is also aiming to encourage increased use of domestically sourced steel scrap among China’s steelmakers.
However, China’s domestic scrap associations and enterprises are making efforts to have metal scrap reclassified as they believe it unreasonable to classify metal scrap as mere waste, Mysteel Global noted.
This article has been published under an article exchange agreement between Mysteel Global and SteelMint.
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