China’s import of copper scrap will increase by 8.6% compared to last year

Recently,officials from the China Non ferrous Metals Industry Association stated that the import volume of scrap copper in China will increase by 8.6%in 2023 compared to last year.According to Liu Wei,Vice President of the Recycled Metals Branch of the China Nonferrous Metals Industry Association,at the CRU World Copper Asia Conference held in Shanghai,China’s import of scrap copper will reach 1.9 million tons this year,an increase from 1.75 million tons in 2022.

As the world’s largest producer of refined copper,China’s demand for copper in the renewable energy and electric vehicle industries is constantly increasing.With the growth of demand,China is expanding the scope and quantity of copper scrap imports.This measure helps to reduce copper production costs while also reducing the environmental impact of manufacturing metals.

Copper refers to the waste copper material that is recycled and reused,and can be processed into new copper products through regeneration processes.The import of scrap copper has multiple benefits for China’s metal industry.Firstly,importing scrap copper can provide raw material supply to meet China’s growing copper demand.Secondly,importing scrap copper can help reduce copper production costs and improve enterprise competitiveness.In addition,importing scrap copper is also a way to reduce the environmental impact of metal manufacturing,in line with the concept of environmental protection and sustainable development.

Behind the growth of China’s copper scrap imports is the rapid development of the renewable energy and electric vehicle industries.The rapid growth of the renewable energy industry has led to a surge in demand for copper,as copper is an important component of many renewable energy equipment and cables.The popularity of electric vehicles has also driven an increase in demand for copper,as electric vehicles require more cables and electronic equipment.

Overall,the growth of China’s copper scrap imports will bring new development opportunities to the recycled metal industry,while also having a positive impact on the global metal market.This measure helps to promote the development of the metal industry towards a more environmentally friendly and sustainable direction,making greater contributions to global resource recycling and environmental protection.