Chinese importers will have to receive licenses and quotas from China’s Ministry of Ecology and Environment for certain scrap metal imports, according to Reuters.
As of July 1, the ministry will start accepting requests for import licenses, while the import quota volume has not been disclosed. As of the same date, imports of eight scrap grades including copper, aluminum and steel will be restricted.
Accordingly, China’s scrap imports are expected to decline due to uncertainty caused by the new restrictions.