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Yahoo
31-07-2025
- Business
- Yahoo
Explainer-What impact will US plans to restrict copper scrap exports have?
By Pratima Desai LONDON (Reuters) -The United States is planning to restrict scrap copper exports from 2027, requiring that at least 25% of so-called 'high-quality' scrap be retained for domestic use. In the near-term the measure is unlikely to have much impact as the U.S. already consumes more than 40% of the copper scrap it generates, analysts say. HOW TO POLICE AN OPAQUE INDUSTRY Industry sources say much will depend on the definition of "high-quality" and question whether any planned restrictions can be enforced in notoriously opaque scrap metal markets. "Practically speaking, this would be probably pretty tough to police ... the whole business of scrap collection, recycling, reprocessing is maybe not the most transparent of businesses," said Duncan Hobbs, research director at commodity merchant Concord Resources. There are also concerns that the rule could distort the market if a few large players attempt to dominate the supply of qualifying scrap, or if the 25% threshold is applied unevenly across producers. WHAT HAPPENS TO COPPER SCRAP GENERATED IN THE U.S? According to the U.S. Geological Survey (USGS), recycling contributed 870,000 metric tons of copper to U.S. supplies last year. The United States exported nearly 957,000 metric tons of copper scrap and waste last year, of which more than 40% was shipped to China, according to data from Trade Data Monitor. Analysts estimate that amount of scrap would yield roughly 580,000 tons of copper metal, which could cut its imports of the metal used in the power and construction. HOW MUCH COPPER DOES THE US IMPORT? TDM data shows more than 921,000 tons of copper metal and alloys were shipped to the United States last year. The bulk of that - 70% - was imported from Chile, while 17% came from Canada. "The U.S. could theoretically be self-sufficient if there were no copper scrap and concentrate exports," said Bank of America analyst Michael Widmer. Sign in to access your portfolio Error in retrieving data
Reuters
31-07-2025
- Business
- Reuters
Explainer: What impact will US plans to restrict copper scrap exports have?
LONDON, July 31 (Reuters) - The United States is planning to restrict scrap copper exports from 2027, requiring that at least 25% of so-called 'high-quality' scrap be retained for domestic use. In the near-term the measure is unlikely to have much impact as the U.S. already consumes more than 40% of the copper scrap it generates, analysts say. Industry sources say much will depend on the definition of "high-quality" and question whether any planned restrictions can be enforced in notoriously opaque scrap metal markets. "Practically speaking, this would be probably pretty tough to police ... the whole business of scrap collection, recycling, reprocessing is maybe not the most transparent of businesses," said Duncan Hobbs, research director at commodity merchant Concord Resources. There are also concerns that the rule could distort the market if a few large players attempt to dominate the supply of qualifying scrap, or if the 25% threshold is applied unevenly across producers. According to the U.S. Geological Survey (USGS), recycling contributed 870,000 metric tons of copper to U.S. supplies last year. The United States exported nearly 957,000 metric tons of copper scrap and waste last year, of which more than 40% was shipped to China, according to data from Trade Data Monitor. Analysts estimate that amount of scrap would yield roughly 580,000 tons of copper metal, which could cut its imports of the metal used in the power and construction. TDM data shows more than 921,000 tons of copper metal and alloys were shipped to the United States last year. The bulk of that - 70% - was imported from Chile, while 17% came from Canada. "The U.S. could theoretically be self-sufficient if there were no copper scrap and concentrate exports," said Bank of America analyst Michael Widmer.
Yahoo
31-07-2025
- Business
- Yahoo
Explainer-What impact will US plans to restrict copper scrap exports have?
By Pratima Desai LONDON (Reuters) -The United States is planning to restrict scrap copper exports from 2027, requiring that at least 25% of so-called 'high-quality' scrap be retained for domestic use. In the near-term the measure is unlikely to have much impact as the U.S. already consumes more than 40% of the copper scrap it generates, analysts say. HOW TO POLICE AN OPAQUE INDUSTRY Industry sources say much will depend on the definition of "high-quality" and question whether any planned restrictions can be enforced in notoriously opaque scrap metal markets. "Practically speaking, this would be probably pretty tough to police ... the whole business of scrap collection, recycling, reprocessing is maybe not the most transparent of businesses," said Duncan Hobbs, research director at commodity merchant Concord Resources. There are also concerns that the rule could distort the market if a few large players attempt to dominate the supply of qualifying scrap, or if the 25% threshold is applied unevenly across producers. WHAT HAPPENS TO COPPER SCRAP GENERATED IN THE U.S? According to the U.S. Geological Survey (USGS), recycling contributed 870,000 metric tons of copper to U.S. supplies last year. The United States exported nearly 957,000 metric tons of copper scrap and waste last year, of which more than 40% was shipped to China, according to data from Trade Data Monitor. Analysts estimate that amount of scrap would yield roughly 580,000 tons of copper metal, which could cut its imports of the metal used in the power and construction. HOW MUCH COPPER DOES THE US IMPORT? TDM data shows more than 921,000 tons of copper metal and alloys were shipped to the United States last year. The bulk of that - 70% - was imported from Chile, while 17% came from Canada. "The U.S. could theoretically be self-sufficient if there were no copper scrap and concentrate exports," said Bank of America analyst Michael Widmer. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Reuters
31-07-2025
- Business
- Reuters
Trump's scrap copper quotas too small to shift the market
BEIJING/LONDON, July 31 (Reuters) - Proposed limits on U.S. scrap copper exports which aim to reduce reliance on overseas production of the metal, are unlikely to have much impact, analysts say, with exports already below the planned cap. Copper is a vital material for the power generation and transmission industries, for artificial intelligence and data centres and for electric vehicles. In new tariff announcements on Wednesday, the White House said it would require 25% of high-quality copper scrap produced in the U.S., the world's largest scrap exporter, to be sold at home, in a move to boost domestic production of refined copper using scrap as a raw material. The executive order did not define high-quality or specify when the domestic use requirement would begin, though a separate report from the Secretary of Commerce said 2027. Trade flows were unlikely to change as a result, Goldman Sachs analysts said in a note on Thursday, in part because "high quality scrap is probably kept domestically already." "If we're looking at the copper scrap market as a whole, there's nothing to see here because the US is already consuming upwards of 40% of copper scrap in its own metal production," said Duncan Hobbs, Research Director at commodity merchant Concord Resources. The United States exported $4.5 billion of copper scrap last year, around half going to China. However exports to its largest customer have dropped sharply since the on-off trade war, muting any potential impact from Trump's latest proposal. Exports of scrap copper to China in May were worth just $7.4 million, down from $248 million a year earlier, according to U.S. customs data. The share of China's scrap copper imports from the US by volume fell to 1% in June from 20.8% in January, Chinese customs data showed.
