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China's iron scrap exports is increasing.      [2017-12-11]

According to Nikkei, China is becoming Asia’s major exporter of steel scrap.Elimination of illegal steel mills below quality standards and environmental protection results in falling domestic demand but rising scrap export.


The increase in scrap exports in China has started since this April. The average monthly export was only 240 tons in the first quarter.But the number surprisingly climbed to 15 thousand, 80 thousand and 510 thousand tons in Apr, May and Sept respectively. During Jan-Oct, Japan exports 680,000 tons of scrap monthly.China is catching up and competing with Japan in scrap export in Asian market like Vietnam.


China has imposed a 40% tariff on scrap to curb its export, so the export price won’t be low for the time being. Anyway, Japan will compete fiercely with China in Asia considering the latter’s geographical advantage with other Asian countries.