Scrap Prices North America
June 6, 2017
SMU Update on China's Move to Export Ferrous Scrap
Written by Tim Triplett
With the shuttering of up to 150 million tons of induction and EAF steelmaking capacity in China reducing its consumption of ferrous scrap, the Asian giant has actually begun exporting scrap material.
Steel Market Update (SMU) has been following the progress of the Chinese as they attempt to enter the ferrous scrap export markets. They clearly have some impediments to overcome.
Since China has not exported scrap in the past, the country does not have the processes in place to sort the various grades of material. Japanese and Koreans have been working with traders in China to help them learn how to sort and reference the different types of scrap.
