BEIJING: In order to ensure supplies and meet the country’s climate goals, China intends to boost the use of steel scrap by 23 percent to 320 million tonnes by 2025, as well as enhance production of recycled nonferrous metals. The world’s biggest metals consumer plans to increase recycled nonferrous output from 14.5 million tonnes in 2020 to 20 million tonnes in the next five years, according to the National Development and Reform Commission (NDRC).
In a statement, the state planner stated that four million tonnes of recycled copper, 11.5 million tonnes of recycled aluminum, and 2.9 million tonnes of recycled lead are among the goals.
The NDRC also pledged to increase the pace at which renewable resources are substituted for primary resources, as well as to improve the utilization of low-grade ores, tailing dams, and other resources.
According to the state planner, China’s steel scrap utilization was roughly 260 million tonnes in 2020, which could replace 410 million tonnes of 62 percent iron ore input.
More over one billion tonnes of iron ore were imported each year, accounting for more than 80% of the country’s total consumption.
This year, rising global metals prices have pushed up producer price inflation in China, leading the government to adopt a number of efforts to curb speculation. So far in 2021, prices for iron ore with a 62 percent iron content for delivery to China have increased by 38 percent. “Non-economic causes had gravely shaken the global supply chain, creating supply unpredictability… had posed a big challenge to China’s resource security,” the NDRC added. According to the release, the strategy will also assist the government in meeting its carbon peak and carbon neutrality goals. China wants to reach a peak in greenhouse gas emissions by 2030 and be “carbon neutral” by 2060.
The ferrous sector accounts for around 15% of total carbon emissions in China, while the nonferrous sector accounts for about 4.7 percent.
(Min Zhang, Muyu Xu, and Gabriel Crossley contributed reporting; Christopher Cushing and Kim Coghill edited the piece.)
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