Baowu Group opens scrap processing plant in Anhui

Wednesday, 06 January 2021 13:52:28 (GMT+3)   |   Istanbul
       

Anhui Province-based Ouyeel Blockchain Finance and Metal Recycling Resources Co., Ltd., (Ouyeel Blockchain), a subsidiary of Chinese steel giant China Baowu Group, has opened a steel scrap processing and production plant with an annual capacity of 2.8 million mt in Anhui Province, according to Reuters. The total investment of the plant is RMB 440 million ($68.35 million).

All the plant’s operations, including procurement, production and sales, will be managed online, as SteelOrbis understands.

China has started to implement new standards for scrap and to allow imports of scrap as a recycled steel raw material, and has changed its duty system, as SteelOrbis previously reported. 


Most Recent Related Articles

Vietnam’s steel imports decrease in Dec from Nov, scrap imports rise

Ferrexpo’s iron ore pellet output up seven percent in 2020

Japan’s steel scrap exports up 25.4 percent in January-November

MIIT: China has to cut crude steel output in 2021

CISA mills maintain daily steel output in Dec 11-20 after hike earlier in month