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China’s ferrous scrap exports escalates

It has been reported by the China Iron and Steel Association (CISA) that there has been a huge increase in the amount of exported ferrous scrap coming from the country in 2017. Rising from 1,000 metric tonnes in 2016 to an astonishing 2.2. million metric tonnes. 

Reported by the Xinhua news service online www.xinhuanet.com this increase has happened even with a 40% export tariff on ferrous scrap that was in operation during 2017. The report also goes on to indicate that the main receivers of the scrap were those countries within the ASEAN region (Association of Southeast Asian Nations).

The reasons for such a change in quantity is firstly because of the country’s larger production of ferrous scrap over the years but also the government trying to reduce its pollution problems by shutting down its scrap melting induction furnace operations after a ban on the production of “ditiaogang”, or steel made from scrap metal.

This intervention has seen a reduction of some 140 million tonnes of scrap being produced within the country. However, some analysts have suggested that the reason for the closure of these scrap fed melt shops is not so much a desire to reduce pollution but to favour state-owned steel making firms. 

Whatever the reason with such an increase in ferrous scrap and if China continues to becoming a major exporter then this could have consequences on the global market with observers predicting an influx by the end of the decade.

Sources: 

www.xinhuanet.com

www.recyclingtoday.com

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