China imported 54,400 mt of recycled steel raw materials in February this year, down 1.63 percent month on month, while up 270.07 percent year on year, according to data released by China’s customs authorities.
In 2022, China’s recycled steel raw material imports amounted to 558,900 mt, up 0.61 percent year on year. In 2021, China imported 555,500 mt of recycled steel raw material.
As previously reported by SteelOrbis, the China Iron and Steel Association (CISA) has preliminarily offered relevant solutions in terms of the development and utilization of steel scrap resources in view of the current increase in the cost of scrap procurement and the long-term problem of tax bill separation, including revising recycled steel raw material standards.