China Ferrous Scrap Import Rises by 15.7% in 2011

Chinese ferrous scrap import increased by 15.7% to 6.767 million tonnes in 2011 from 2010, which increased for the first time in 2 years. The volume was still much lower than 13.7 million tonnes in 2009. Japanese trading firm source said China would import scrap depending on the price, not on the raw steel output.

The import increased by 62.3% to 2.779 million tonnes from USA in 2011 from 2010. The import decreased by 13.2% to 2.329 million tonnes from Japan. The import from USA was higher than the import from Japan for the first time in 2 years. The import from the major 2 countries represented 75% as 2010.

The import increased by 112.0% to 405,133 tonnes from Australia in 2011 from 2010. The import decreased by 19.4% to 300,483 tonnes from Hong Kong while the import increased by 610.9% to 161,148 tonnes from UK.