China’s scrap consumption to grow
Oct 21, 2013 | 03:28 PM
| Brian Levich
LONDON Chinese scrap consumption will remain high over the next decade based on patterns in the global ferrous scrap sector, AMM sister publication Metal Bulletin reported, based on a report by Metal Bulletin Research (MBR).
Scrap consumption in the global steelmaking and foundry industries has risen rapidly since 1985 and is expected to grow until 2021, with the pattern of consumption likely to change radically over the same period.
The consensus among many observers is that China will become a net exporter of scrap after 2020.
Before then, however, the transition from the country being a net importer of scrap to a net exporter will be delayed by increased domestic consumption of scrap, mostly in the basic oxygen furnace (BOF) sector, and government policy, according to MBR.
Beijing will likely work to discourage scrap exports and instead divert material toward feeding the growing Chinese steel industry, albeit one growing at a slower pace than in the recent past.....
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