STEEL SURVIVAL STRATEGIES: Raw materials market future 'hangs on China'

What China intends to do with its burgeoning reserves of ferrous scrap material is the unknown factor that will determine the future of the iron ore and scrap markets, a top executive with US steelmaker Nucor has said.

“Will Chinese economic and environmental policies promote the domestic consumption of scrap? Or conversely, will that scrap be made available to the global market? That trend, more than any other single event, will make the determination as to who is king and who is queen in the metallics market,” Joseph Stratman, executive vp and chief digital officer of the steelmaker, said at the Steel Survival Strategies XXXII conference in New York this week. China’s entry into the ferrous scrap export market and its growing scrap reservoir have triggered waves of concern...

Published

Mei Ling Toh

June 29, 2017

19:28 GMT