Major Chinese steelmaker Maanshan Iron & Steel (Magang) hopes to lead the overhaul of the Chinese ferrous scrap market by pioneering a domestic pilot project, group vice president Chen Zhaoqi said at the 12th China International Metal Recycling Conference 2019 in Zhuhai, China on April 25.
Magang is planning 10 million tonnes per year of new ferrous scrap capacity across 10 ferrous scrap processing bases to coincide with the national industrial shifts toward electric-arc furnace (EAF)-based steelmaking."Some of our blast furnace (BF)-based mills are old, and the company's direction will likely be to replace them with EAF-based mills in the future," Zhaoqi said.The new ferrous scrap capacity will be...