Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Group (Ansteel Group) has announced that its subsidiary Angang Steel Scrap Resources Company plans to achieve a 13.0 million mt scrap processing capacity by 2025 - including 5-10 core bases and 20-30 satellite bases, to establish a business model blending the production base and finance.
The Ansteel Scrap (Shenyang) Satellite Base project aims to make full use of the regional advantages, resource advantages and equipment advantages of the urban resource recycling base in Shenyang in Liaoning Province, as well as the market advantages, brand and technical advantages of Angang Steel Scrap Resources, to build itself into a leader in scrap processing and a distribution center in northeast China.