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Article: Chinese steel mills spurn costly imported scrap.
- Article from:
- China Business News
- Article date:
- November 3, 2009
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Chinese steel mills spurn costly imported scrap
By Ginger Ding Shanghai. November 3. INTERFAX-CHINA - China, the world's largest steelmaker with an annual crude steel production capacity amounting to over 660 million tons, has a huge demand for raw materials, including scrap steel. However, even though China's domestic scrap steel supply is limited, it is unlikely to turn to expensive imported scrap steel in the next few years, industry insiders told Interfax on Nov. 3.
There is a general consensus in the sector that, as a country still in the process of urbanization, China has several decades to go before it accumulates enough scrap steel resources to ...