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. ....
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