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On August 14-16, 2020,
16th Steel Development Strategy Conference, hosted by SteelHome,
was successfully held in Shanghai Tower. Around 800 delegates
from governments, associations, steel mills, miners, traders,
research institutes attended the one of biggest events in China
steel industry.
9th International Raw
Materials Supply Chain Summit, 10th Coal & Coke Development
Strategy Conference, 8th China Commodities E-Commerce Summit and
2020 SteelHome Summer Report were simultaneously held.
Lv Zhirui,
Executive Editor of China
Association of Metalscrap Utilization, delivered a
speech titled Outlook on China Steel Scrap Market,
in 9th International Raw Materials Supply Chain Summit on August
15, 2020.
Lv Zhirui,
Executive Editor of China
Association of Metalscrap Utilization
Key
Points
40% of crude steel in
the world has been made from steel scrap in the past 50 years,
BIR’s data shows, indicating the importance of rationally
utilizing and developing steel scrap resources.
The social inventory of
steel scrap has kept rising in China amid increasing domestic
steel reserves. “Steel scrap utilization will reach 30% by 2025
in China,” the Ministry of Industry and Information Technology
clearly stated in The Transformation and Upgrade Plan for the
Iron and Steel Industry (2016-2020).
“By 2030, steel reserves
in China may reach 13.2 billion tonnes, and the social inventory
of steel scrap may come to 320-350 million tonnes. China scrap
utilization may not only meet the global average but also
surpass it,” written in a book by Yin Ruiyu Academician of
Chinese Academy of Engineering (CAE) and former Vice Minister of
the Ministry of Metallurgy Industry. |
