Latest Update in the China Copper Scrap Market

From September 19 to 25, the copper scrap throughput in East China Nonferrous Metals City was about 29,400 mt, a week-on-week increase of 18.88%.

For the frenzying increase in discount rates and prices in recent months, SMM believes that it is the combined effect of the imbalance between supply and demand as well as the outdated pricing scheme.

From August 22 to August 28, the copper scrap throughput of East China Nonferrous Metals City was about 22,000 mt, a week-on-week increase of 29.15%.

From August 15 to August 21, the copper scrap throughput of East China Nonferrous Metals City was about 17,100 mt, a week-on-week increase of 33.11%.

According to SMM research, in July 2022, a total of 29,750 mt of lithium battery scraps were recycled in China (including scrap in the form of battery, pole piece and black mass), and the recycling volume rose slightly by 2% compared with June.

The customs inspection of imported aluminium scrap has been relaxed since late June. According to the latest customs data, in June 2022, 124,600 mt of aluminium scrap were imported, an increase of 220.3% year-on-year and a month-on-month increase of 23.67%. Imports in the first six months of 2022 totalled 630,400 mt, a year-on-year increase of 55%.

In fact, as early as January this year, the Ministry of Industry and Information Technology mentioned at a press conference that it is expected that by 2030, the total scale of China's power battery recycling industry will reach more than 100 billion yuan.

It is believed that all participants in the value chain need to take joint actions to achieve carbon reduction in the aluminium industry by analysing current problems and difficulties in the recycling of waste cans in China.