According to published reports, China Metal Recycling Holdings Ltd., which is seeking to grow the volume of material it handles, is seeking to acquire China-based metal recycling operations throughout China. The company, which claims that it is the largest scrap metal recycler in China, hopes that adding more facilities to its portfolio will reduce the company’s needs to purchase material from outside China.
Bloomberg reports that the company is seeking to purchase other metal recycling firms in China’s northern, middle and eastern areas.
The news report also notes that ferrous scrap imports to China may fall to as low as 6 million metric tons this year, compared to around 14 million metric tons last year. Bloomberg, quoting CMRH’s chairman and chief executive, notes the decline would be due to higher prices for the material.