Steel output controls may limit China's steel scrap use

With more Chinese steelmakers making plans to reduce their crude steel production to conform with government requests, steel scrap consumption nationwide is expected to decline overall during the second half of this year, Mysteel's latest survey showed. In particular, the country's eastern and central regions are likely to see the most significant declines in scrap use, according to the survey.

Since late July, domestic steel mills have received verbal notifications from local authorities that they should keep their crude steel output this year at or below their 2022 totals, as reported. Some construction-steel mills in East China's Jiangsu and Shandong provinces have plans to cut their steel production this half