China copper scrap discount grows with cargoes stranded at Chinese ports; some already rejected

Shipments of copper scrap for import into China have been trading at a bigger discount in December, with many cargoes stranded at Chinese ports while customs officials carry out inspections under the new import policy.

"For birch/cliff covered with paint or other impurities the samples are sent to laboratories, so it is taking a long time for clearance," a scrap importer said.
A scrap trader said clearance could take up to one month with several hundreds of containers now stranded at Ningbo port, home to major copper fabricators in China.

"Initially customs was randomly testing 25% of all containers against the new standard. However, they...

Published

Julian Luk

December 30, 2020

08:43 GMT

Hong Kong