China to expand imports of recycled steel raw materials

in Freight News28/08/2023

China said on Friday it will expand imports of recycled steel raw materials.

China will support iron ore companies in investing in transformation and will promote companies cooperating in overseas iron ore exploration, especially in neighbouring countries, according to a statement jointly issued by government bodies.

The world’s top metals producer also aims to increase output of 10 non-ferrous metals by 5% in 2023-2024, the industry ministry said in a separate document issued on Friday.Source: Reuters (Reporting by Siyi Liu, Amy Lv and Dominique Patton; Editing by Himani Sarkar)