We're celebrating another milestone today - We are proud to be the first company anywhere in the UK & Europe exporting Recycled Scrap Metal to China since the export ban was lifted as published in the associated press:
Metal Bulletin:
Argus:
SBB Platts:
Metal Expert:
We do things differently here at Atlas Commodities Ltd. China wants to achieve net zero emissions by 2060 and is making efforts through industrial policy to reduce it's carbon footprint by making more of its steel from Recycled Scrap Metal rather than from Carbon intensive raw materials such as Iron Ore and we are extremely proud to play our part.
Thank you to our partners on both sides of this trade, GLAZEWING LIMITED & Zhejiang Metals and Materials Co.
We expect demand for containerised scrap from China to grow signifficantly in coming months, underpinned by robust steel demand from the economic recovery in China. EAF steelmaking capacity is widely tipped to reach 196 million MT/year by end 2021, up 13 million MT from end 2020 paired with the scrap ratio in BOF production which can and is being boosted to as high as 24%-28% in a bid to maximise steel production whilst margins are healthy - The culmination of these two factors, considering scrap usage in Chinese converters sat at around 18% through-out 2020 will spur on demand for scrap imports, once the process has been established, tried & tested.
Policy change to lower steelmaking carbon emissions led by China's Ministry of Industry and Information Technology is also expected to spur on increased scrap usage when considering the greener nature of EAF steelmaking and the more carbon intensive alternative, namely making steel with sintering and coke production.
We are immensely proud to be playing our part in efforts to reduce carbon emissions and look forward to continiung to develop this market further in coming months and years.