China’s ferrous scrap usage down 1% in Jan-Sept despite sharp rise in steel output

Friday, 13 November 2020 14:34:33 (GMT+3)   |   Shanghai
       

Li Shubin, vice chairman of the China Association of Metalscrap Utilization (CAMU), stated on November 12 at the 2020 National Steel Scrap Conference held in Haikou, Hainan province, that China’s steel scrap consumption dropped by one percent or 1.58 million mt year on year to 155.2 million mt in the first nine months of the current year, with the scrap ratio (steel scrap consumed in China’s overall steelmaking) at 19.86%, 1.1 percentage points lower compared to the same period last year.

At the same time, in the January-September period this year, China produced 781.59 million mt of crude steel, up 4.5 percent year on year.

The Ministry of Industry and Information Technology (MIIT) stated that by 2025 China’s steel scrap usage rate in overall domestic steel production will reach 30 percent. 


Most Recent Related Articles

Iron ore inventory at Chinese ports down 0.49 percent

China to resume ferrous scrap imports in late 2021

Iron ore inventory at Chinese ports keeps rising, up 2.32 percent

Shagang Group raises scrap purchase prices again

Baosteel’s net profit down 12.86% in Jan-Sept, crude steel output down 3.85%