China ferrous scrap industry reaches impasse

Jan 06, 2014 | 11:29 AM |

Tags  China Association of Metal Scrap Utilization, Camu, electric-arc furnace, EF, ferrous scrap imports, Shagang Group

SHANGHAI — The Chinese ferrous scrap industry, considered to have big prospects due to the country’s growing demand for greener steelmaking raw materials, hit an impasse in 2013.

While China’s crude steel output continued to rise, mills have generally been consuming less scrap in recent years.

A drop in domestic trade curbed prices, and many companies either shelved or reduced scrap imports in the second half of 2013.

Ferrous scrap imports for the first 10 months of 2013 dropped 10 percent year on year to 3.79 million tonnes.....

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