TOKYO -- Call it a consequence of Beijing tightening its ban on poor-quality steel made from melted scrap, but China is fast becoming a major exporter of scrap iron.
A campaign to shut down furnaces that produce steel that fails to meet environmental and quality standards has created a 68 million-ton glut of scrap iron in China, said Seiichi Hayashi, head of Steel Recycling Research, a Japanese scrap iron research firm.
