FOCUS: What China's scrap inspection change really means for the global market

A change in Chinese inspection procedures will have minimal impact on steel scrap trade flows, industry sources told Fastmarkets in the week to June 4.

On Thursday June 3, China's General Administration of Customs said it would no longer carry out inspections on material imported under a specified list of HS codes, with five types of recycled steel materials mentioned.
The HS codes no longer being considered for inspections include compressed auto bodies and scrap of canned iron or steel.
The declaration caused some confusion among market participants when it was first announced, particularly over whether China was now allowing these five types of ferrous scrap to be imported.

Published

Lee Allen

Paul Lim

Tianran Zhao

June 04, 2021

09:54 GMT

Shanghai, Singapore