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.