The Chinese government is set to further tighten imports of scrap metal, imposing import licenses on high grade aluminum, copper and steel. China already implemented rules for low-grade scrap in 2018, slashing an import market that was worth $13.2 billion in 2017 figures. U.S. exporters including Sims Metal Management and Greta Corp. are unlikely to receive licenses given the ongoing trade conflict. U.S. exports to China fell 72.4% year over year in 1Q 2019, with annualized shipments of $940 million that could easily fall further as a result of the new rules. Substitute shipments to S...