HOW CHINA’S GOVERNMENT STIMULUS PACKAGE IS HELPING THE RECYCLED METALS IMPORT MARKET RECOVER
May 1st, 2009
BY MARK GODFREY
BUSINESS remains slow in Jinghai, a slice of industrial land a couple of hours east of Beijing designated as one of China's key recycling belts. Business was brisk here up to October 2008, the date given locally as the beginning of a savage dip in demand for recyclables. Faltering demand from local manufacturers and property developers has pushed scrap metal prices down by 50%.
Much of Jinghai's scrap ended up in the furnaces of the nearby Tangshan Corp, one of China's largest steelmakers. Shipbuilding and machinery making in the nearby port ...
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