Core Insights - The recycling of steel materials in China is entering a period of rapid development, with the industry accelerating its transformation towards intelligent, integrated, and refined operations, which supports the green and low-carbon development of the steel industry [1] Group 1: Industry Development - As of the end of 2024, 910 enterprises will have entered the Ministry of Industry and Information Technology's list of approved steel processing companies, with an annual processing capacity of 180 million tons and an annual sales volume of approximately 110 million tons [1] - The technological and equipment levels in China's steel recycling industry have significantly improved, with advanced equipment such as large hydraulic scrap shears and metal crushing production lines being widely adopted [1] - The "integrated" development model is being actively promoted, connecting the entire industry chain from recycling, processing, and distribution to steel production, achieving efficient resource integration [1] Group 2: Future Projections - By 2025, China's total scrap steel resources are expected to reach 253 million tons, with approximately 210 million tons available for steelmaking; this figure is projected to increase to 282 million tons by 2030 [2] - Using scrap steel as a substitute for iron ore can save nearly 1.7 tons of iron ore, 350 kilograms of standard coal, and reduce carbon dioxide emissions by 1.6 tons for every ton of steel produced, highlighting its growing green value [2]