Guangdong's scrap import may rebound in 2nd half

Guangdong’s scrap import may rebound in 2nd half

After a subpar beginning to the year, scrap imports at China's Guangdong Port showed signs of picking up in June. Scrap imports at the port decreased 29 percent year on year to 748'000 tons through the first half of the year. At the same time, the trade value of imports decreased 17 percent year on year to $230 million. A leading contributor to the drop-off in imports was the 16.9 percent year on year increase in average price to $307/ton. However, the first half ended on an up note as scrap imports at the port increased 25.2 percent in June following a 30 percent year on year decrease for the February – May period. The rebound in June will also probably be observed in the figures of July and August.