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Commodities

China fast becoming major exporter of scrap iron

Japanese industry alarmed by glut of shoddy metal flooding Asia

Even this plant in the Japanese city of Kitakyushu imports Chinese scrap iron.

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.

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