Increasing scrap usage was deemed to be a key step the road map of decarbonization of Chinese steel industry, Li Xinchuang, the Vice Chairman of China Iron & Steel Association (Cisa) said on Tuesday July 13.
"It is important that we increase supply of scrap in the local market. We expect the share of electric-arc furnaces (EAFs) in Chinese steelmaking to increase from 10% to more than 15% in 2025," Li said in his presentation during the Singapore Iron Ore Forum."The recent increases in prices of finished steel products in China supported mill margins, which buoyed buyers' acceptable level of raw material costs. The domestic scrap arrival volume to mills has...