Vi e w p o i n t | 26 Jun 2026 08:23:24 ET │ 9 pages Global Metals & Mining Implied scrap use of steel in China down 3%y/y in May'26 (-9%y/y in 5M'26, -15.6%y/y in FY'25), tailwind for iron ore CITI'S TAKE One of the reasons for the strong iron ore import demand in China (+7%y/y in FY'23, +5%y/y in FY'24, FY'25: +2%y/y) despite weak steel production had been the reduced use of scrap in steel making. Implied scrap use (crude steel-pig iron production) was only 148mn tonnes in China in FY'23; 153mn tonnes in ...