China ferrous scrap buys seen unlikely soon
Nov 01, 2006 | 01:59 PM
| Ben Garside
China's ferrous scrap buyers aren't expected to look overseas for feedstock again until steel production from blast furnaces declines in relation to the nation's electric furnace output, according to John Neu, vice chairman of Sims Hugo Neu Corp., a unit of Sims Group Ltd.
Speaking at the Bureau of International Recycling (BIR) fall convention in Brussels, Neu said China's big steelmakers haven't bought a deep-sea scrap cargo in six months.
"We do not expect major changes until the ratio of domestic blast furnace iron production to raw steel production declines to 90 percent of raw steel production at most. This could be equal to around 22 million tonnes per year more demand for other ferrous units, including scrap," Neu said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here