Business
Copper price rallies as Chinese scrap shipments sink by 50% – MINING.com
China’s war on foreign waste sees shipping lines refusing to transport scrap, fearing a liability for return shipment if cargoes are rejected by customs.
China consumes more copper than the rest of the world combined and Reuters reports the China Nonferrous Metals Industry Association told a conference on Friday that imports of secondary copper could halve in 2020, from just under 1.5 million tonnes last year.
The country wants to eliminate imports of what it deems foreign waste and has implemented a strict quota system.
In a recent research report, Roskill called scrap the most vulnerable link in the global supply chain and said Chinese impo…
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