Gu Liyong, CEO of Shanghai,
China-based Chiho-Tiande Metals has said that import
scrap accounts for 90 percent of the company's
scrap purchases, the
China-based AAStocks news website has reported.
According to the same report, Chiho-Tiande Metals is developing its focus on the mainland Chinese market and is negotiating some acquisitions. A new company jointly held by Chiho-Tiande Metals in the city of Tianjin,
China is expected to come on stream late in the current year, with a
scrap processing capacity of 0.25-0.30 million mt.