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China's scrap mounds threaten global iron-ore industry

The country's ore demand seen shrinking 50% by 2040 as steel use dwindles amid growing use of recycled metal

The rise of mini-mills that use electricity to melt down scrap is set to prove a big challenge for the iron-ore producers, says the China Iron & Steel Association.


AS China's booming middle class junks ageing cars and home appliances, the next threat to the world's ailing iron-ore producers is materialising. In a country that uses more steel than any other, it's now become about as profitable to make the alloy by melting down scrap metal

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