China has a steel scrap shortage of about 10 million tonnes, according to an analysis by the Chinese Steel Scrap Association. In the first half of the year China produced 267 million tons of crude steel, and for the whole year is estimated to see an overall crude steel output of 530 million tons.

Based on the fact that in 2008 the production of 1 tonne crude steel
consumed 144 kilograms of steel scrap, the 2009 annual demand for steel
scrap is estimated to be 76 million tonnes in China.

The country generated about 30.8 million tonnes of steel scrap in the
first half of 2009, and hence the yearly amount is estimated to be 61.6
million tonnes, which is 14 million tonnes less than earlier
expectations and over 10 million tonnes less than the expected demand,
according to Yan Qiping, secretary general of the association.

Source: Chinamining

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• China consumes 80 million tonnes of scrap in 2009

    According to Mr Yan Qiping the general secretary of the China Association of Metalscrap Utilization, China approximately consumes 80 million tonnes of steel scrap in 2009. In 2009, China scrap consumption totaled to about 80 million tonnes with the total transaction volume to CNY 200 billion calculated by unit price

• Japanese scrap export 10 months ago by 76pct YoY

    According to statistics released by Japan’s Ministry of Finance, Japan’s scrap export during January to October 2009 period was 8.3 million tonnes, up by 76% YoY. The scrap export during 2009 is estimated to reach 9.97 million tonnes

• Steel scrap imports zoom in Zhangjiagang port

    Metal Biz quoted according to the statistics of Zhangjiagang Inspection and Quarantine Bureau, the imported scrap steel amounted to 3.35 million tonnes in January to November at Zhangjiagang port valued USD1.1 billion up by 598%YoY and 267%YoY respectively. As per report, the explosive growth of imported scrap at Zhangjiagang attributed

• Scrap price index debut

    China will launch its first scrap price index on the Nanning (China-ASEAN) Commodity Exchange in March this year, which steel insiders claim would help both China, the world’s largest scrap consumer, gaining dominance in the price-setting for scrap worldwide and domestic steelmakers fixing their costs and reducing business risks through

• Vietnam: Steel producers see shortages of raw materials

    Vietnamese-owned ingot steel factories lack a sufficient amount of scrap steel to continue production at high levels, according to the Ministry of Industry and Trade. Pham Chi Cuong, chairman of the Viet Nam Steel Association, said current scrap steel volume only meets about 10 per cent of the domestic production. Steel ingot

• Majority scrap load port terminated

    The biggest cargo of scrap metal to leave Wellington headed out of CentrePort yesterday, but some of it may eventually end up back in New Zealand.

• Recession hits steel scrap supply in 2009, 2010

    Global scrap supply will fall in 2009 as the economic downturn hits recycling activity and next year the developed world’s recovery will be key for scrap availability, the UK arm of one of the world’s largest metal recyclers said. “Over the last year, the scrap arisings in the UK and

• U.S. prices for steel scrap uptrend

    Recycling Today reported that given the huge declines in US construction and auto manufacturing over the past year, the recent rise in steel scrap prices may lead many to scratch their heads with surprise. According to the American Iron & Steel Institute, domestic raw steel production hit its weekly high

• China scrap copper output seen peak of 2014

    China’s locally-produced copper scrap is expected to peak as early as 2014, a director at powerful industry body the China Nonferrous Metals Industry Association, said on Sunday. “Another five to six years, the collection of copper scrap domestically would enter into the peak period,” Lu Jian, director of the information

• EU steel scrap export price at first inclined since early September

    As Turkey steel mills return back market to purchase, EU scrap steel export price firstly increased since early September. The export price of EU No.1 and No.2 mixed heavy scrap (80:20) boosted from U.S.$224-230 per ton to U.S.$235-240 per ton.

• Ukrainian steel industry decline or slowing

    Ukraine’s steel industry reduced finished roll output 18% year-on-year in January-November to 24.417 million tonnes, the Industrial Policy Ministry told Interfax. The industry cut roll output 30% year-on-year in January-August, 27% in January-September and 23% in January-October, so the latest figures indicate that the severe decline in the industry is

• China, the seventh largest steel exporter position

     It is reported that China became world seventh largest steel exporter in H1 2009. In the Q2 of this year, China became a net steel importer for the first time since Q4 of 2005. In Q2 2009, China imported 6.6 million tonnes of steel products while exported only 3.5 million

• East Asian steel scrap and pig iron imports continue to rise offer

    The tight supply and increasing spot ore price propelled the import offer of East Asia scrap steel and pig iron to climb continuously. Presently the price of No.1 and No.2 heavy scrap stands at U.S.$360-365 per ton (CFR) and the offer of pig iron increases to U.S.$380-390 per ton (CFR).

• To increasing scarcity of scrap prices in 2010

    Scrap metals prices are braced for further gains in 2010, as a shortage bites, caused by the recession that held consumers back from ditching the old household goods and cars that account for 80 percent of supply The knock-on price effect will be felt in the reviving steel industry, just

• Company scrap, iron ore, underpin Black Sea billet

    Rising prices of steelmaking ingredients scrap and iron ore continued to buoy steel billet prices in the Black Sea region this week, but tonnages have dropped as trading thinned due to holidays. Black Sea free-on-board (fob) billet was quoted between $415-$420 a tonne, unchanged from last week. Some traders said