FOCUS: Restart of China scrap imports bad news for rival Asian buyers
Chinaâs regulatory reboot to again become a major steel scrap importer is likely to cause supply problems for other consumers of Japanese material, market participants have told Fastmarkets.
The first deals signed by Chinese companies after rules changed on December 31 to officially allow the restart of scrap imports to China have all been for vessels of Japanese material.
If this continues, Chinaâs import strategy is likely to pose a great challenge to other territories that depend on the supply of Japanese scrap, such as Vietnam, Taiwan and Bangladesh, sources said.