China will implement its national standard on recycling iron and steel materials on Jan 1 next year, said the China Iron and Steel Industry Association (CISA) Thursday.

The standard specifies the definition, classification, technical requirements, inspection methods and acceptance rules for recycling iron and steel materials, said Zhang Longqiang, head of the China Metallurgical Information and Standardization Institute.

It will provide standard technical support to ensure the import of high-quality recycled steel resources, said Zhang, who participated in the drafting of the standard.

Meanwhile, the standard has strict requirements regarding environmental protection.

Compared with using iron ore, steel-making with recycled iron and steel materials can greatly reduce pollutant emissions, according to the standard's drafting committee.

The standard will facilitate the green transformation and healthy development of the steel industry, as it allows steel companies more raw-material options, while limiting the use of iron ore and its price increase to some extent, said Jiang Wei, deputy Party chief of CISA.

Jiang said the industry will be able to exploit more recycled raw materials, both at home and abroad, and better recycle and utilize resources after the standard is implemented.

The steel industry has long faced the challenges of resource dependence, environmental constraints and cost pressure. The standard has attracted much attention as it is considered a breakthrough point for the industry in solving development problems, according to industry insiders.

The external market environment, with its increasing uncertainties, has forced companies to trade futures to control risks, and relevant parties have been pushing forward the listing of recycling iron and steel materials futures.

Source: Xinhua