China is likely to turn into an exporter of ferrous scrap in the next decade and global scrap availability is expected to almost double by 2050, Edwin Basson, director general at the World Steel Association, said on Tuesday November 12.
As the Chinese steel recycling sector develops the Asian country is set to generate more than it needs by the mid-2020s, he told a panel at Alacero's Latin American Steel Conference in Buenos Aires, Argentina."China is currently consuming all of the ferrous scrap it produces, but it is becoming more efficient on generation," Basson commented. "We think the country could become an exporter by the mid-2020s [if the current growth rate is maintained]."Worldsteel is expecting global scrap availability to almost double during this half of the...