Imported steel scrap record high at Jiangsu Zhenjiang port
Sunday, 27 Sep 2009
MetalBiz reported that the imported steel scrap was 435,430 tonnes at Zhenjiang port in January to August up by 21% from the historical high record set in 2003.
The quality of imported steel scrap at Zhenjiang port is mostly structure steel and few is break stock this year. The import was mainly from Japan, Australia, Russia, US, Holland, Turkey and Taiwan China.
Insiders from Zhenjiang inspection and quarantine analyzed that the increasing steel scrap import at Zhenjiang port resulted from the following reasons. On one hand, due to the financial crisis, the cost advantage of imported steel scrap was prominent. Since October last year, the international scrap price slipped from high level, which changed the situation of price reversion in the domestic and oversea markets.
The insider said on the other hand, steel scrap is energy saving and green-environmental resource as well as the lower price in oversea market than in domestic market, therefore, taking cost and profit into consideration, domestic enterprises strengthened the purchase of steel scrap from oversea market. Additionally, the environment surrounding Zhenjiang port attracted trading enterprises.
