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CSI: China’s scrap imports may tighten global steel margins (Dec. 7, 2020)

In late November China began clearing away the existing framework for the import of ferrous scrap and replacing it with new standards which should allow freer imports from the start of 2021. At the same time, strong domestic demand and improving global steel sentiment have sent steel and raw materials prices surging. This will form a key framework for steel markets internationally in 2021, with impacts on both steelmaking costs and on trade flows.