Foreign media: China suddenly became a major exporter of scrap after it refused to become a global dump

According to a report by the Nikkei News Network, China’s rejection of the global junkyard has suddenly become Asia’s leading exporter of iron waste “junk”. Recently, according to the China Iron and Steel Industry Association, in 2017, China exported a total of 2.203 million tons of scrap steel, while in 2016 it was only about 1,000 tons, a year-on-year increase of several thousand times.

At the same time, China is also the world’s largest steel producer, but the problem is that China’s demand for steel is decreasing and iron scrap is surplus. This has caused China to compete with Japan, which is also an exporter, in the Asian market. The Japan Iron Recycling Research Institute recently issued an early warning. The report “Focus on China’s Scrap Exports” pointed out that the continued rise in Chinese scrap exports is not a “short-lived” phenomenon and it is expected that China’s scrap exports will remain declining. There are even Japanese steel makers saying that China’s seizure of the Asian market has become a reality and is killing our market.