In 2018, the large and medium-sized converters in China consumed 58.275 million mt of scrap, increasing by 13.0562 million mt compared to 2017, with the share of scrap used in converters at 9.38 percent, less than the ideal level of 15.0-20.0 percent, indicating that there is great potential for further growth in Chinese scrap usage in the future, as reported by local Chinese media sources.
In 2018, large and medium-sized electric furnaces in China consumed 16.5917 million mt of scrap, increasing by 2.3787 million mt compared to 2017. In 2018, the crude steel output from electric furnaces amounted to 38.0237 million mt, up 8.56 percent year on year.
Currently, China consumes 140.0 million mt of scrap every year. In 2018, China’s scrap production totaled 78.3231 million mt, up 15.3255 million mt from 2017. However, since 65 percent of Chinese finished steel is consumed in housing and transportation construction, Chinese scrap production is unlikely to indicate sharp rises in coming years due to the long-term cycle involved.