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 the
e-commerce platform.

China consumed about 80 million tons of scrap last year, with a
transaction value of up to 200 billion yuan, and is expected to use
more in the future. The release of the price index would also catalyze
a shift in the steel industry towards a low-carbon and recycling
economy as ferrous scrap, an alternative raw material to iron ore, is
recyclable and more environmentally friendly in the process of
steelmaking.

Source: chinaisa.org.cn

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• China consumes 80 million tonnes of scrap in 2009

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    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

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    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

• 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

• China is 10 million tonnes of steel scrap shortage, association –

    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

• 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

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• Hyundai Steel raises export prices, long product life

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• 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

• Pre Holiday Fall For Baltic Exchange Dry Index

    The Baltic Dry Index fell yesterday to its lowest point in almost two months as trade wound down for the Christmas Holiday. The index has recently been buoyed by an increased demand from China, but the spectre of oversupply still exerts a downward pressure and uncertainty surrounding future requirements means

• China Container Freight Index rose 0.56% (to 985.6 points), 13 to 20 November 2009

    China Containerized Freight Index increased by 0.56% (to 985.6 points) within the current week, November 13-20, 2009. As per materials of the Ministry of Transport of the People’s Republic of China, the index has gone up by 1.32% in European direction, by 0.56% – Mediterranean service. China Containerized Freight Index