China eyes long-term scrap supplies from Japan
The China Association of Metal Scrap Utilisation (CAMU) recently held talks with the Japan Ferrous Raw Materials Association on closer ties: these included the issue of long-term supply contracts for Japanese scrap, a senior CAMU executive tells Steel Business Briefing.
The two sides have made a preliminary agreement to cooperate. Specific aspects, however, have yet to be decided. In addition, CAMU is also looking to strengthen relations with its Russian and US counterparts, SBB has been told.
CAMU"s plans will progress in line with "China"s Steel Industry Development Policy" recently issued by the National Development and Reform Commission (NDRC), SBB understands. As specified in the new industry development policy, Chinese steel companies are encouraged to either set up overseas raw material bases, or source raw materials from overseas markets.
US, Japan, and Russia have been the top three scrap supplies to China, suggests local data. In the first half of 2005, China imported a total of 5.05m tonnes of scrap – down 12.7% y-o-y. This included 1.17m tonnes from the USA – down 28.6% y-o-y; 0.98m tonnes from Japan – up 24.5% y-o-y; and 0.50m from Russia – up 13.3% y-o-y.
The two sides have made a preliminary agreement to cooperate. Specific aspects, however, have yet to be decided. In addition, CAMU is also looking to strengthen relations with its Russian and US counterparts, SBB has been told.
CAMU"s plans will progress in line with "China"s Steel Industry Development Policy" recently issued by the National Development and Reform Commission (NDRC), SBB understands. As specified in the new industry development policy, Chinese steel companies are encouraged to either set up overseas raw material bases, or source raw materials from overseas markets.
US, Japan, and Russia have been the top three scrap supplies to China, suggests local data. In the first half of 2005, China imported a total of 5.05m tonnes of scrap – down 12.7% y-o-y. This included 1.17m tonnes from the USA – down 28.6% y-o-y; 0.98m tonnes from Japan – up 24.5% y-o-y; and 0.50m from Russia – up 13.3% y-o-y.