Since April 2019, China’s purchases of steel billets have surged more than tenfold mostly from traders and producers in the United Arab Emirates, Malaysia and other Southeast Asian nations. The metal is then made into products such as reinforcement bar used in concrete. The steel is used to build the nation’s skyscrapers, bridges and cars, but China occasionally floods the world market with its excess capacity.
China Consuming Steel Scrap
January 22, 2020