According to information released at a press conference of the 9th Secondary Metals International Forum/Exhibition & Trade Fair, China nonferrous metalshas scrap stockpiled over 200 million tons, a precious resource for the secondary nonferrous metal industry.

China’s output of secondary nonferrous metals reached 5.3 million tons in 2008, taking 21 percent of the country’s total nonferrous metal output. The industrial output value exceeded 220 billion yuan during the same year, said Wang Gongmin, chairman of the Recycling Metal Branch under the China Nonferrous Metals Industry Association (CMRA).

Development of the secondary nonferrous metal industry can help save energy, reduce emissions and develop the recycling economy of China. Compared with directly produced metals, CMRA data shows that China’s secondary nonferrous metal industry saved 202 million tons of standard coal and 9.3 billion tons of water from 2001 to 2008, with a discharge reduction of 5.6 billion tons of solid wastes and 2.55 million tons of sulfur dioxide.

In China, the majority of secondary nonferrous metal enterprises are private companies, which provide over 1.5 million jobs for the country.

On November 3 to 5, in southern China’s Guangzhou city, the Secondary Metals International Forum/Exhibition & Trade Fair is to be held.

It is said from Shan Shanghua (secretary general of China Iron and Steel Association) that the world’s iron ore supply next year will still exceed the overall demand.

“It will be hard for steel production in the United States and the European countries to fully recover next year when the financial crisis is not really ended yet,” Shan said.

An industry insider also indicated that although the global demand might grow next year, it would still be less than the supply.