In the first three months of the current year, China imported 55,389 mt of steel scrap following the full resumption of steel scrap imports as of January 1 this year, much higher than the 3,366 mt recorded for the same period of 2020, and even exceeding the 27,000 mt registered for the whole year of 2020, according to the monthly report released by China’s Administration of Customs.
In March alone, China imported 45,564 mt of steel scrap, much higher than the figure for the first two months this year.
Since the beginning of the current year, many Chinese steel mills and scrap traders have been actively searching for new channels or opportunities to import scrap, seeking to establish business relationships with overseas sellers. Accordingly, the sharp rise in steel scrap imports for the given period was anticipated.