China will be scrap self-sufficient: CMR

Nov 03, 2011 | 04:41 AM |

China will be self-sufficient in ferrous scrap within 15 years, as the domestic supply increases significantly, according to Jacky Chun, ceo of China Metal Recycling (CMR).

“As the world’s second-largest economy, China’s ongoing urbanisation and industrialisation will inevitably drive scrap-metal generation in the coming years,” Chun told a Terrapinn scrap conference in Shanghai on Wednesday.

“In 10-15 years’ time, China will be self-sufficient [in scrap], or even become a net exporter,” he added.
Historical data worldwide shows that steel has a lifespan of 8-30 years in its original use. With China’s steel output expanding significantly over the past 10-15 years, from 100 million tonnes of crude steel to an estimated 700 million tonnes this year, this will create the possibility of a large supply of domestic scrap. ....

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