Chinese copper imports plummet; Indian steel production up; US Act to unlock used phones passed
China’s scrap copper imports down 13% in June
China Customs data shows that scrap copper imports tumbled 13.1% month-on-month to 263,000 tonnes in June. The fall in imports was largely due to meagre profit for scrap traders and sizable copper concentrate stocks at copper smelters. The import volume last month dropped 21.8% on the corresponding period last year. First half imports declined by 14.8% year-on-year to 1.76m tonnes.
India’s first half steel output rises 1.4%
According to the data from World Steel Association, steel output in India edged up 1.4% year-on-year to 41.28m tonnes in January-June period. The country’s steel production increased at nearly half the world’s average in the first half of 2014. On the growth front, China and South Korea stood ahead at 3% and 9.1% respectively. Both US and Japan clocked 0.9% growth rate in the first six months, Russian growth was little less at 0.7%.
The Economic Times
‘Unlocking phones act’ passed in US
The Institute of Scrap Recycling Industries (ISRI) has applauded the passage of the Unlocking Consumer Choice and Wireless Competition Act. The legislation permits recyclers and refurbishers to bulk ‘unlock’ used technological devices such as mobile phones and tablets to refurbish and resell.
Japanese aluminium shipments up 7.2% in first half
According to the Japan Aluminum Association, Japanese aluminium shipments in the first half of 2014 surged 7.2% year-on-year to 1.02m tonnes. Flat product shipments rose by 7.4% in the first six months to 608,666 tonnes.
Talco cuts first half aluminium production by 47%
Asia’s largest aluminium smelter Tajikistan Aluminium Co slashed output by 47% during the first six months of 2014 to 61,100 tonnes owing to the low demand for the metal. During January-June 2014 period, aluminium sales plummeted 49.6% year-on-year to $109.2m.