US copper scrap market latest victim in trade war

Scrap recyclers in the United States have become unwilling pawns in a tit-for-tat trade war, with China slapping a blanket 25% tariff on copper scrap and other recycled metals from the US, effective Thursday August 23.

The tariff applies to products under Harmonized Tariff Code 7404.00, which refers to copper waste and scrap, as well as other scrap products including zinc, tin, magnesium, tungsten, titanium and various other scrap items.
There was however some confusion with the latest announcement, according to industry participants.
Market participants noted that products under Harmonized Tariff Code 7602.00, which refers to aluminium waste and scrap, were included on the list even though these products had already been hit with a 25% tariff on recycled aluminium that went into effect Monday April 2.
Scrap traders in China said they have sent an official request to the China Ministry of Commerce for clarity to see if the listing was a mistake or whether aluminium scrap products will be dealt an additional 25% tariff.
The announcement comes in response to the escalating trade spat between China and the US.

“The US decided...

Published

August 09, 2018

04:05 GMT

PIttsburgh