After the breaking out of the epidemic, steel demand surged, and global scrap supply and demand became tighter. More and more countries started to restrict the export of scrap steel.
First, Russia has raised the export tariff on scrap from EUR 15 to EUR 45 at the end of last year. Alacero, the Latin American steel association, also required restrictions on scrap exports. Malaysia recently also announced that it will impose a 15% tariff on scrap exports.
As China's production capacity of electric arc furnaces increased, China was expected to become a major importer of scrap steel.
Turkey, as the largest scrap importer in the world, believed that the country should establish special organized industrial sites to encourage the collection of waste materials and consider the use of alternative products to replace waste materials in the production process.
Source: YIEH
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