SMM

Imports of steel scrap totalled 166,000 mt in the first three months of 2023, up 230% YoY. With the liberalisation of imports of raw materials for secondary steel from January 1, 2021, scrap steel imports have been increasing steadily. Yet, China's steel scrap imports are at an extremely low level mainly because there are only five customs commodity codes corresponding to the types of steel scrap that can be imported. The import standards for specification and impurity content are stringent and some details are not clearly defined.