Wuchan Zhongda Imports 3,096 Tons of Recycling Iron-Steel Materials from South Korea

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Wuchan Zhongda Imports 3,096 Tons of Recycling Iron-Steel Materials from South Korea

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State-owned Wuchan Zhongda Group’s [600704:CH] subsidiary Zhejiang Metals and Materials Company (ZMMC) imported 3,096 tons of recycling iron-steel materials from South Korea, cleared and released on March 18 after the on-site inspection and laboratory identification by the Jingtang Port Customs in Hebei Province, as reported by Sina on March 26. This is the first batch of recycling iron-steel materials Hebei imported after the national standards of recycling iron-steel materials was officially implemented on January 1, 2021. At present, Jingtang Port District has successfully received and unloaded two ships of imported recycling iron-steel materials, with more ships planned to arrive in succession. In addition, the district is actively applying for the Dalian Commodity Exchange’s scrap steel futures delivery warehouse to build a distribution and logistics center for recycling iron-steel materials in Tangshan Port.

Recycling iron-steel materials are scrap iron and steel that have been sorted, recycled, and processed, which can be used as ferrite resources directly into the furnace. Compared with iron ore, the use of recycling iron-steel materials for steelmaking can greatly reduce pollutant emissions. Moreover, recycling iron-steel materials are not only a renewable resource, but also the only ferrite resource that can replace iron ore. It is an important raw material for the green development of the iron and steel industry, which helps alleviate the current situation of highly relying on imported iron ore. According to the statistics, there are a total of six import orders for recycling iron-steel materials signed. Among them, three orders have passed Chinese customs inspection, including 3,000 tons imported by Ouyeel Alchemy from Japan, 2,800 tons by Zhejiang Judong from Japan, and a batch by Guangzhou from Macao.