Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Steel industry in China should switch to domestic and imported metal scrap as a raw material instead of iron ore, suggested Liu Bingjiang commissioner of the Ministry of Ecology and Environment at the 13th National Committee of the Chinese People’s Political Consultative Conference (CPPCC). The commissioner believes this switch could make China global electric furnace steelmaking base, as cited by China Iron and Steel Association (CISA).  


The use of metal scrap as a raw material will also help in reducing pollution. Chinese government bodies and related associations are in the process of setting national standards for metal scrap imports.


As the country aims to move towards self-reliance for steelmaking raw material, CISA chairman He Wenbo suggested setting a national strategic goal to raise in house iron ore production to 20pc above the country’s demand. China is one of the largest iron ore consumers in the world and imports around 60pc of its requirement from Australia. In recent times though, trade relations between China and Australia are strained.  



Leave a Reply

Your email address will not be published.