Survival challenges for China's scrap steel recycling and processing industry

Source: Mysteel Mar 20, 2025 10:35

In 2024, China's steel industry faced significant operational pressure, with a notable decline in scrap steel processing volumes at accredited enterprises. Additionally, the proportion of processed scrap steel relative to national consumption saw a slight decrease. According to a Mysteel survey, among 825 accredited domestic scrap steel processing enterprises, total processing volume in 2024 dropped by 10.87 million tonnes compared to 2023, marking a 9.76% year-on-year decline. This corresponds to a 3.66 percentage point decrease in the share of national scrap steel consumption.

This article examines the reasons behind the declining market share of China's accredited scrap steel processing enterprises and provides a brief outlook on future trends for the country's scrap steel recycling and processing industry. Table.1: Scrap Steel Consumption Volume Between 2023 and 2024 1. Accredited Scrap Steel Processing Enterprises Face Greater