Thursday, September 08, 2011 (12:38:00 PM) : Copper, as its already known, is a very primary andimportant scrap metal of very high demand in the scrap market. So far, thecopper scrap business has witnessed both, an alternative of ups and downs.Reports state that in the international copper scrap market, US is the largestexporter of copper scraps with a contribution of almost 20% of copper scrapexports around the globe in 2010. And when it comes to the largest part ofimports, China tops the first in this regard. In 2008, the country imported anamazing 68 percent of world’s scrap copper. It has been noted thatthere has been a rapid increase in demand for copper scraps all over the worldwhich has automatically stimulated a fast industrial growth in both Asia andEurope.
In reality, actually the copper scrap market suffered fromdull business due to the recession and subsequent changes to the globaleconomy. Presently, China is on its increasing brink of its copper scrapimports. According to the most recent data, in June shipments of copper scrapinto China climbed to 420,000 tonnes, their highest level this year.
So, in my view, with the Government’s initiative andsupport, China’s copper scrap market growth curve can grow upward depicting thecountry’s valuable contribution in recycling operations.