China treading its own path in the scrap market

摘要

China's recent battle against waste imports into the country reaped success as August ferrous scrap import hit an astounding 0 mt, a figure unseen for the past 20 years in the country, according to latest customs figures. With the recent banning and restriction of ferrous scrap imports into the largest steel producing country, since end December, China's import volumes of the raw material dwindled to figures that are almost nonexistent. Since last year, the country has been slowly isolating itself from the global scrap market. Limiting imports of scrap as part of its battle against being the world's dumping ground for waste, and on the other hand keeping the hefty 40% tax duties on its scrap exports. Though through this, it does seem once again that ferrous scrap happens to be the "unintended victim" of being classified into waste policies and controls.