The Bright Future For China's Steel Scrap Market In 2018 - 1

- Dec 14, 2017-

China Steel Industrial Chain Development Summit & Custeel Annual Conference 2018 was successfully held in Dec 6-7 in Beijing. The Sub-forum of Steep Scrap Application and Electric Furnace Development was hosted by Yang Wei, vice-manager of Raw Material Dept. of Custeel, and was held in the afternoon on Dec 6. In the sub-forum, Du Xingya, deputy secretary general of China’s Steel Scrap Application Association, gave a speech on the topic of Rising the Comprehensive Utilization Level of Steel Scrap is the Only Sure Way to the Green Steel Industry. Mr. Du expounded the steel scrap utilization situation as well as the outlook of steel scrap market. China’s crude steel output totaled 709.5 million tonnes from Jan to Oct in 2017, up by 36.54 million tonnes or 5.4% YoY. Besides, the total amount of steel scrap consumption for steelmaking reached 114.51 million tonnes, up by 42.21 million tonnes or 58.4% YoY. As predicted, the number will reach 140 million tonnes till the end of 2017, marking that China is stepping into the new stage of using large scale of steel scrap for steelmaking. In the past 10 months of 2017, China’s steel scrap consumption was 164.4kg/tonne, up 54kg/tonne on a yearly basis and proportion of steel scrap was 15.96%, up by 4.9 percentage point from last year.

China’s whole steel scrap processing industry has been improved by the fluctuation of the market price of steel scrap as well as the steel mills’ usage and dosage. After crushing, the utilization of light steel scrap has been enhanced greatly. Processing enterprises increased the bulk density remarkably after crushing the middle-sized steel scrap. As a result, steel scrap processing industry is stepping into a more delicacy stage. A large number of steel mills have lifted steel scrap as a strategic goal and many steel scrap processing programs are on project. Therefore, the layout of steel scrap industry is deepening to industrialization further.

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