Arab Steel Summit
Arab Steel Summit
Arab Steel Summit

China scrap prices seen strengthening by year end

Li Shubin, vice chairman of the China Association of Metal scrap Utilization (CAMU) at the 2020 National Steel Scrap Conference in Haikou in South China’s Hainan province predicted that steel scrap prices across China are likely to keep strengthening in the remaining few weeks of 2020.

“Earlier this year, the lower scrap production amid the COVID-19 pandemic nationwide led steel scrap supplies to tighten, which supported domestic scrap prices and kept them at a relatively high level,” Li added.

Mysteel’s steel scrap index as of November 11 had increased to Yuan 2,679/tonne ($394/t) on delivery and including the 13% VAT from one week earlier to reach the highest level since April 2013.

Compared to imported iron ore and its persisting high prices, steel scrap continues to have competitive advantages for steel mills, though scrap prices have steadily strengthened recently.

Lie added that in order to contain their production costs within an acceptable range, “most steel mills are adding more steel scrap during their steelmaking processes to ensure steady steel output.” 


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About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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