China has renamed copper scrap with a content range of 94-99.9% and that meets certain impurity thresholds, to copper renewable materials.
The classification change from the world’s largest scrap importer is expected to “spur demand over time” for US scrap exports, a copper scrap trader told Fastmarkets.
US buyers and consumer of copper scrap were concerned about the impact of increased exports. One buyer said, “China is going to be hungry - it is going to affect us big time.”
A second buyer said, however, that it is premature to assume scrap metal exports to China “will return to the volumes seen several years ago.”
"Those days are gone," a trader source agreed.