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China's Steel Scrap exports likely to be negative
May 3,2017 19:17CST
industry news
The main reason for China's: Steel-intensive is believed to be US economy, with access to local/imported raw materials. That mature/stable industry has evolved over a century; scrap has contributed 50

CHINA May 03 2017 3:27 PM

BEIJING (Scrap Register): The main reason for China's: Steel-intensive is believed to be US economy, with access to local/imported raw materials. That mature/stable industry has evolved over a century; scrap has contributed 50-70%.

China's blast-furnace dominated steel production mainly depends on scrap for 19 percent of its total iron unit requirements, which was up from 8 to 12 percent before 2010, when scrap usage increased from property and infrastructure rebuild in major cities.

As per the bank “Dumping this raw material of IF facilities into the open market (& ex-China) may be the more commercial/expeditious option for players of an industry undergoing an aggressive govt-led reform program”.

Though the global scrap market seems to be bearish, China's exports was seen a little motivation aside from crimping Southeast Asian demand for deepsea material.

Steel Scrap exports

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