China's Sept steel scrap imports plunge another 47% MoM

China's steel scrap imports slumped for the second straight month in September, tumbling by another 44.6% on month to 24,624 tonnes, according to data from the General Administration of Customs (GACC), Scrap market sources blamed lukewarm demand from China's steel mills that are now having to curtail their steel output because of the nationwide power shortages and the central government's determination that 2021 steel output be slashed.

Accordingly, last month China's steel scrap imports from Japan, the country's largest overseas steel scrap supplier, fell too by another 52.2% from August to 15,185 tonnes. Japanese scrap accounted for 61.7% of China's total import volume last month. The further cooling of imports during September was mainly because of limited