China vows to speed up decision on new steel scrap import standards

China will speed up the formulation of new standards for steel scrap imports, an industry group said at a meeting, amid global uncertainty over Bejing's plan to ban all solid waste imports by the end of 2020.

China currently categorises scrap metals as solid waste, but has made some exceptions.

In January, its market regulator published new standards for high-grade copper scrap and aluminium scrap that allowed them into the country.

However, it remains unclear whether steel scrap, a key ingredient in steelmaking, will still be allowed to be imported under quotas granted for next year.

The formulation of such national standards normally takes several years.

Jiang Wei, an official at the China Iron & Steel Association (CISA), said at a conference that the State Administration for Market Regulation will hold a meeting in early October to kick-off discussions about new standards for recycling steel.

"The standards for recycling steel should be high-grade materials, which should be distinguished from traditional solid waste while in line with the trend of solid waste import management," the CISA said.

The conference was chaired by the environment ministry. Other authorities including the industry ministry and the customs office also attended to discuss tax issues and customs codes.

The environment ministry urged that a text of the new standards text be completed as soon as possible and promised to help with its early release and implementation.

China, the world's largest steel producer, has approved imports of 23,110 tonnes of steel scrap by far this year.

Steelmakers have seen prices of raw material iron ore surge nearly 50% so far in 2020 amid robust demand and supply disruptions.

(Reporting by Min Zhang in Beijing and Emily Chow in Shanghai; Editing by Kim Coghill)