China, the world's leading scrap consumer, plans to accelerate industrial development up to CY'25 to support its economic growth. The country's Ministry of Industry and Information Technology (MIIT) has announced that the steel industry will use more than 300 million tons (mnt) of scrap by 2025.
The scrap recovery and treatment system will likely be improved and the level of use will be increased significantly.
In addition, the smelting route will obviously be optimized and EAF steel production will account for more than 15% of China's total crude steel output. With this structure, supply and demand will generally reach a dynamic balance.
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