Nonferrous Metals Association Holds Meeting to Review Copper Scrap Supply and Demand, Discusses Institutional Improvements

Ministry of Trade, Industry and Energy, Korea Customs Service, Ministry of Environment, and Industry Representatives in Attendance
Discussion Focuses on Stabilizing Supply and Institutional Improvements

The Korea Nonferrous Metals Association announced that, on July 28, it held an 'Industry Meeting on Copper Scrap Supply and Demand' at the association's conference room in Yeoksam-dong, Seoul, attended by the Ministry of Trade, Industry and Energy, Korea Customs Service, Ministry of Environment, the copper industry, and related organizations.

Korea Nonferrous Metals Association CI.

This meeting was organized to allow the industry and the government to share trends in copper scrap supply and demand and to discuss potential institutional improvements in response to recent changes in the domestic and international copper scrap supply environment.

A total of 19 participants attended the meeting, including major member companies such as LS MnM, Korea Zinc, Daechang, Poongsan, Igusanup, and Neungwon Metal Industrial, as well as representatives from the Ministry of Trade, Industry and Energy, Korea Customs Service, and Ministry of Environment, the Korea Copper Industry Cooperative, and the Korea Copper Scrap Distribution Cooperative.

In its presentation, the association pointed out that the proportion of copper scrap exports to China is increasing, and proposed a series of measures: regularizing undocumented scrap transactions, reviewing an export notification system and export management for shipments to China, easing import inspection standards, and expanding the designation of high value-added recyclable resources—such as waste tungsten and waste target materials—as recyclable resources.

Daechang explained that while the domestic copper scrap market amounts to about 620,000 tons annually, a significant portion of domestically generated copper scrap is exported, resulting in an ongoing supply-demand imbalance that leads to large-scale imports due to a shortage of raw materials. The company also pointed out a high proportion of undocumented transactions in the distribution market and noted the issue of low-cost exports to China.

The Ministry of Environment explained the draft revision to the 'Notice on the Application of the Act on the Transboundary Movement of Waste.' The amendment includes nonferrous metals among export notification items, while keeping imports excluded from the notification requirements as before, and is currently under public review with a scheduled implementation date of January 1, 2027.

Participants exchanged views on ways to stabilize raw material supply, strategies for responding to market challenges, and the direction of waste resource management policies.

A representative of the association stated, "This meeting provided an opportunity to share the industry's difficulties in securing raw materials with the government and to reflect field opinions in policy," adding, "We will continue to monitor supply and demand trends and take follow-up action to ensure the successful implementation of revised regulations in the field."

This content was produced with the assistance of AI translation services.