China steel scrap exports dip 99.8% YoY in Dec

In recent years, the steel industry has witnessed a series of reforms. From key words such as the "supply-side reform" in 2016, the "capacity reduction" in 2017, the "ultra-low emission transformation" in 2018, and the "accelerating state-owned enterprise reform" in 2019, "high-quality development" in 2020 and "carbon peak", "carbon neutrality", "reduction of crude steel output", "promoting mergers and reorganization of the steel industry", "high-quality development of the steel industry” in 2021, we can see that China's steel industry is gradually moving towards green development.

SMM China Steel Scrap & EAF Monthly Keeping you in touch with the Chinese ferrous metals markets

China’s industry bodies have kicked off the formulation of standards on imported recycled iron and steel, which will reclassify high-quality ferrous scrap as recyclable materials that may be exempt from the upcoming ban on the so-called “solid waste” imports.

China's imports of cobalt raw materials, including ore and intermediate products, came in at 8,000 mt in January, down 25% from December, showed the latest customs data. Imports in 2019 were 24%...

Supply tightness still dominates the steel scrap market, as the epidemic prevented some scrap processing companies from returning operations

The imports in December exceeded that in November to the highest monthly level since September 2018

Domestic restrictions on scrap imports drove consumers to cheaper alternatives from other Asian countries

There remained uncertainties around the Sep cutbacks in Tangshan, as market rumoured about a tougher version on Wednesday

This followed after shipment recovery from typhoon boosted the arrivals two weeks ago

This could only serve as a short-term method as the proportion of steel scrap in raw materials shall not exceed 25%