China looks to increase scrap utilization rate

摘要

China’s scrap consumption totaled 101.23 million mt for the firstnine months of this year, up 36.53 million mt (56.5%) from a yearearlier, according to figures from China Association of MetalScrap Utilization (CAMU). This marked the first time since 1996that China’s scrap consumption broke the 100-million mt level, afeat which market watchers attributed to the government’sefforts to crack down “illegal” rebar production in accordancewith supply-side reforms. The figure might reach as much as 140million mt by the end of this year, estimated CAMU vice-presidentLi Shubin recently.