Agency Issued Draft Set of Standards for Ferrous Scrap Imports
Further, the document seeks comments from scrap recycling companies.
SEATTLE (Scrap Monster): The Chinese State Administration for Market Regulation issued a draft set of standards for imports of ferrous and stainless steel scrap into the country in future. The draft document lists out the grades of various scrap grades permitted for imports. Further, the document seeks comments from scrap recycling companies.
According to the document, a total of 13 ferrous scrap grades and 2 stainless steel scrap grades will be allowed to enter Chinese ports. Out of the 13 steel scrap grades, 4 are for shredded scrap, six pertains to cut grades, whereas the remaining three are for baled or bundled scrap. Meantime, both the stainless steel scrap grades are for sheared and baled scrap material.
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The specified measurements are metric. Also, majority of cut grade specifications are close to the export specifications for heavy melting steel (HMS), as specified by the Institute of Scrap Recycling Industries (ISRI). This essentially means that exporters would not have to adjust their bundles to the one-meter maximum length allowed in Chinese domestic scrap market.
It must be noted that the authorities in China have been working on new import specifications for various categories of scrap, before the government deadline.
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Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.40 | $US/Lb |
#1 Copper Bare Bright | 4.17 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.81 | $US/Lb |
6061 Extrusions | 0.71 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 360.00 | $US/MT |
#1 Busheling | 380.00 | $US/MT |
Electronics Scrap |