Due to China's environmental protection policy, domestic demand for steel scrap continues to decline and supply continues to rise, leading to a drop in scrap prices.
Some traders have started looking to increase their scrap steel exports to the Asian market over the past 2 months as Chinese resources have increased significantly.
According to customs statistics, Chinese scrap exports totaled 15,400 tons in April 2017, up 2252.6% from the previous month, while ferrous scrap exports last year were only 1,045 tons.
Exports of steel scrap in China will increase tenfold in April
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