China will end the ban on imports of ferrous scrap
on January 1 after it reclassified certain qualities steelmaking raw materials
under the new regulations.
On December 23, China’s Ministry of Finance also announced the country will remove its 2% import tax rate on ferrous scrap
and revive its most-favored-nation duty rate system from January 1.
Görkem Bolaca, managing director at international trading firm Galex Steel International, expects China to start importing about 15-20 million tonnes of scrap in 2021.
Turkey imported 18,856,851 tonnes of steel scrap in 2019, according to the Turkish Statistical Institute (TUIK). This figure made Turkey the...