China is close in becoming major source for aluminium scrap by 2025, CIAR projects
According to the latest report published by Shanghai Metals Market and forecasted by Li Shilong, General of CIAR, China is going to turn out to be the major source for global aluminium scrap by 2025.
Li Shilong said that the secondary aluminium capacity in China has surpassed 10 million tonnes as of now. The country would enter the peak of aluminium consumption by 2020.
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China is close in becoming the main source for aluminium scrap as the aluminium products in various sectors including automobile and construction is reaching the end of their service life.
According to a report published by China Nonferrous Metals Industry Association Recycling Metal Branch (CMRA), secondary aluminium production in China will reach around 9 million tonnes growing at CAGR 8 per cent through 2020.
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A new report showed that the global aluminium scrap recycling market is estimated to expand at a 7.59 per cent compound annual growth rate in the years to 2021.
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