ISRI was invited to speak at the 9th China International Metal Recycling Conference in Wuhan, China. The conference brings industry-insiders from around the world to discuss issues impacting the ferrous and non-ferrous scrap recycling industry.
Key
topics included China’s 13th five-year plan on steel scrap and the
current state of China’s steel industry. There was considerable
discussion concerning China Steel’s overcapacity of primary steel
production. China’s Iron and Steel Association president clearly
recognized steel overcapacity as a problem that must be addressed and commented
that “a new normal [for China] is needed… in order to stabilize price and
control production [of Chinese steel].” ReMA was asked to present on the U.S. Ferrous Scrap Outlook.
Ferrous scrap is the largest commodity group processed by U.S. recyclers, with
a value of over $18 billion in 2015. Over 80 percent of U.S. processed
ferrous scrap is consumed by the U.S. steel industry. While signs of
continued U.S. economic growth are visible, ReMA and its members remain very
concerned about the state of crisis impacting the U.S. steel
industry. ISRI calls for vigorous enforcement of trade laws and
supports the strongest legal measures to protect the steel industry from
illegal dumping and unfair subsidies that have a negative economic impact
throughout the manufacturing supply chain. Immediate action is needed to
prevent growing trade tensions and recurring crisis