Lihua International Receives Import License

Lihua International Inc., a Chinese copper and alternative copper products company, has reported that it received an environmental import license from China’s Ministry of Environmental Protection.

In a news release, the company says late last year it received a scrap metal import license from the General Administration of Quality Supervision, Inspection and Quarantine. According to Lihua, receiving the two licenses will allow the company to start purchasing and importing scrap copper directly from overseas suppliers, rather than working through intermediaries to receive scrap copper.

Jianhua Zhu, Lihua chairman and CEO, says. "As we continue working to expand the scale of our business and focus on increasing profitability, our ability to import scrap copper marks a significant milestone for Lihua.  By making direct purchases from overseas suppliers, we believe that over time we can achieve considerable raw material cost savings, which we believe will drive incremental gains to our bottom line as we continue to expand our scrap copper refinery capacity."