China

Despite the difficulties surrounding the global economy at present, the Chinese government is balancing between economic growth planning and continuing with its carbon reduction efforts, including expansion of the carbon trading market and enhancing international co-operation to facilitate the green transition through promoting green investment and trading co-operation and by increasing imports and exports of green, low-carbon products.

Supported by industrial output and consumption, China’s GDP growth in this year’s first quarter exceeded the projected 5.1% in reaching 5.4%. However, tariffs with the USA are expected to impact economic growth, mainly through the manufacturing sector’s exported goods.

The ongoing tariff war with the USA is likely to lead to a significant drop in China’s non-ferrous scrap imports. Meanwhile, China’s National Development and Reform Commission is targeting a non-ferrous scrap utilisation total of 20 million tonnes this year, including copper, aluminium and lead.