China’s steel scrap exports decline 98% YoY in Jan

China's automobile production and sales were 2.04 million units and 2.13 million units, down 8.7% and 5.5% month on month respectively, and falling 6.8% and 3.1% year on year.

A water inrush accident occurred at the Dahongcai iron ore mine in Daixian County, Shanxi Province on June 10, leaving 13 people trapped, according to preliminary estimate.

Operating rates of blast furnaces at steel mills fell 1.2 percentage points from a week ago and decreased 0.9 percentage point from a month ago to 85.7% as of May 27, SMM survey showed.

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.

According to the SMM survey that covers 102 blast furnace steel mills, 42.2% of them are undertaking maintenance or have trimmed output (excluding mills that reduced output by adjusting rates of equipment utilisation and raw material ratios), down from a ratio of 50% last week, as some long steel mills have recovered production from maintenance.

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

China’s imports of copper concentrate expanded for a second straight month in Nov

China imported 31,231.79 mt of refined zinc in Sep, down 54.01% year on year and 53.83% month on month