China imported 555,500 mt of steel scrap in 2021, according to the Chinese customs authorities. In particular, 392,000 mt and 95,700 mt of steel scrap were imported from Japan and South Korea, accounting for 70.6 percent and 17.2 percent of the total import volume for the given year, respectively.
China’s new national standard for steel scrap has been officially implemented as of January 1 2021, signaling that China could allow importation of steel scrap from this date.
The rebounding trend of ex-Japan scrap prices have made it difficult to conclude import transactions for steel scrap of this origin recently.
