The metals recycler, one of the largest in Europe, said the move reflects the growing importance of China as a market for recycled metals. The size of the Chinese economy is currently only 12% that of the US, but China already produces more steel and copper than the US.
Colin Iles, managing director at EMR, said he expected China to steadily increase its demand for recycled metals because of the continuing growth of its manufacturing and construction industries.
Mr Iles said: “Our market analysts expect demand from China to increase year on year at the double digits rate that we have been experiencing recently for at least the next five years. EMR will be well placed to service that demand.”
The company aims to strengthen existing supply arrangements and build new business alliances, both with Chinese steelworks and consumers of non-ferrous metals.
Subscribe for free