China has announced the HS codes for material that meets its new ferrous scrap import standards, effectively enabling imports to begin.
Ferrous scrap that meets the new parameters, which categorise scrap into six groups, will be allowed for import under the HS codes of 7204100010, 7204210010, 7204290010, 7204410010 and 7204490030 from tomorrow.
Scrap that fails to meet the standards will not be permitted for import.
But Beijing has still not released any exact information on what scrap grades will be allowed for import, or the full inspection and customs parameters. This lack of clarity could limit Chinese ferrous scrap imports in the early stage of the implementation of the new standards, as suppliers may adopt similar strategies to when China implemented its new non-ferrous scrap import standards in November and only resume shipments cautiously on a trial load basis.
