China’s 2018 steel scrap exports slump 85.2% on year

China’s steel scrap exports totalled just 332,343 tonnes in 2018, lower by a huge 85.2% on year, the latest statistics from China’s General Administration of Customs (CACC) showed on January 23.

In December alone, the export of steel scrap slumped by an even larger 99.8% on year to a meagre 298 tonnes, according to the data. The sharp plunge in steel scrap exports was because of the high base level reached in 2017 when steel scrap volumes shipped abroad surged following