Chinese rumours unsettle the markets

摘要

There have been a lot of rumours about China's planned import bans, but David Chao, President of the BIR's non-ferrous metals division, warns of taking those rumours too seriously. So far, he points out, there are no signs that imports of non-ferrous metals to China will be limited in the future. Importers should wait for an official announcement, says Chao. He goes on to explain that the scrap import permit renewal-extension approval procedure for mixed metals has been put on hold until the environmental inspection programme has been completed. He further states that, so far, approximately 15 per cent of the violations discovered by the National Sword operation have concerned non-ferrous importers or processors.