Beijing places additional 5% tariffs on copper and aluminium scrap shipments
China will implement an additional 5% tariff on imports of copper and aluminium scrap from the US, increasing the total tariff to 30% from mid-December. This is expected to be bad news for smaller-size bulker owners
As China has already switched its procurement away from the US, the nation is increasingly looking towards Malaysia, Taiwan and Japan to source the scrap materials
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