Piles of steel scrap are mountains of treasure to recycling firm鈥檚 manager
Print Edition
SHANGHAI Chanan Recycle Co Ltd in Jiangqiao Town recently went public at Shanghai Equity Exchange.
Xu Jiashi, the company’s general manager, sees the steel piled up in his factory as mountains of treasure.
So far, Chanan has set up more than 100 recycling branches for collecting scrap steel and sent about 100,000 tons to steelmaking enterprises, 70 percent of it to Baosteel.
To guarantee the quality of the waste steel, the company spent 30 million yuan (US$4.8 million) on a large-scale crushing machine in 2009, the first of its kind in Shanghai, which made the company a leader in the city’s steel recycling sector.
It is estimated that, compared to iron ore, using scrap steel in steelmaking could reduce carbon dioxide emission by 58 percent, industrial waste gases by 86 percent and waste water by 76 percent. Xu realized it would become an irresistible trend.
In recent years, Chanan’s business of recycling the scrap steel has been growing by more than 30 percent a year. And this year, its production value is estimated at 250 million yuan, and the growth rate next year is expected to reach 50 percent.
Xu says Chanan doesn’t only resell waste steel, but also offers something new. For instance it processes the excess material of a car door for downstream users, who can transform it into small hardware and save about 30 percent in purchasing costs. Chanan has also set up a subsidiary called Wanguan Industry & Trading Company, processing copper pipes.
“We can achieve a win-win situation by maximize the use of existing resources,” said Xu.
“It can save the resources and protect the environment. That’s our biggest motivation in this business.
“It’s just like cooking — more materials can make more dishes, and make dishes more delicious”, Xu added.
Chanan is considering getting into the business of recycling the city’s scrap cars.
“Over the next five to 10 years, the number of scrap cars in Shanghai will increase rapidly,” Xu said. “It will be a good business if the market is opened to the private companies.”
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