Scrap import in Manzhouli Port rose by 120.5%
Scrap import quantities at
China's largest land port Manzhouli Port in Inner
Mongolia province surged in the first half of 2005, and according to the statistics data from Manzhouli Customs,
scrap import at this customs totaled 195'000 tons up to June 30, 2005, with trade value reaching $25.69 million, up 120.5 percent and 134 percent against that of the same period of 2004.
The rise in the price of
iron ore led
scrap to be favored by most steelmakers in
China for its competitive price. According to the analysis of industry insiders, tight
scrap supply situation will exist in
China domestic market. As iron reservation has been few in
China, and social
scrap recycling can not satisfy the
production demand, it is predicted that
scrap deficit may reach 15 million tons in 2005, which can be remedied by
scrap import.
Manzhouli port controlled by Manzhouli customs takes advantage of its location, convenient railway and road transport. It is an important port for
China to import
scrap from
Russia.