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Focus: China's steel mills turn trash into cash as policy reshapes strategy

Reuters  |  BEIJING 

By Muyu Xu and Josephine MasonBEIJING (Reuters) - Steel mills in China are spending big on equipment that shreds cars and other junk metal for use as raw material, as government demands to make smoke-stack industries cleaner continues to reshape heavy manufacturing.Investing in scrap-processing equipment is the latest sign that mills have cash to spend after bumper margins last year resulting from skyrocketing metal prices. It also indicates that Beijing's tough rules on pollution are pushing companies to be more efficient. Scrapyards typically remove paint and other contaminants from used ...

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First Published: Fri, May 18 2018. 16:48 IST