MB STEEL SCRAP: China steel glut, low iron ore prices depress SE Asia scrap consumption

Overcapacity in Chinese steel production and iron ore prices at a five-year low are having a “serious negative impact” on scrap consumption in south-east Asia, a senior sector executive has said.

“2013 was a grim year for the international steel scrap trade, and south-east Asia’s was no exception,” Ved Prakash, director of the steel division at Gemini Corp, told delegates at Metal Bulletin’s 4th Steel Scrap conference in Rotterdam on Monday September 22. “International trade in steel scrap decreased in 2013 by almost 10%, and south-east Asia witnessed a decrease of...


Vera Blei

September 22, 2014

17:22 GMT