In the article, Li Shubin, vice president of the China Association for the Utilization of Scrap Steel, highlighted at the 2013 China Iron Ore Conference—organized by MB (British Metals Herald) and China Minmetals Corporation—that China's scrap steel industry is experiencing a significant boom in resource recycling. The sector holds vast potential for future growth and presents promising opportunities for development.
Li Shubin noted that in 2012, the steel market faced shrinking demand, leading to widespread losses among companies. Steel prices continued to fall, while the implementation of full value-added tax in 2011 caused scrap steel prices to rise by 300 to 500 yuan. This increase placed additional cost pressures on companies using scrap steel, dampening their enthusiasm for utilizing scrap in iron and steel production. As a result, total scrap consumption in China declined for the first time in 11 years. In 2012, China’s steel industry used 84 million tons of scrap steel, which was 7 million tons less than in 2011.
According to Li Shubin, the "Twelfth Five-Year" Development Plan has created major opportunities for the scrap steel industry in China. The plan emphasizes the need to accelerate the establishment of a scrap steel recycling system that aligns with the country’s steel industry needs. It encourages the development of domestic processing and distribution companies that meet environmental standards, aiming to build several demonstration bases for scrap steel processing. The plan also focuses on improving the entire supply chain for scrap steel, enhancing processing technologies, and promoting high-quality scrap steel products. Additionally, it calls for research into preferential policies for importing scrap steel to encourage overseas investment in recycling, processing, and distribution.
Over the past two years, the China Scrap Steel Application Association has focused on industrialization, productization, and regionalization in building an efficient scrap steel processing and distribution system. More than 40 companies have been established across 28 cities in 19 provinces nationwide. These companies process between 25 to 30 million tons of scrap steel annually, accounting for over 50% of the steel industry’s procurement of social scrap.
Looking ahead, the China Association for the Utilization of Scrap Steel aims to establish 100 new processing and distribution companies across the country, each with a capacity of 200,000 to 1 million tons of scrap. With strategic planning, advanced technology, and stable supply chains, the industry hopes to increase its processing and distribution capacity from the current 25–30 million tons to 40–50 million tons within the next five years or more.
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