China’s new state-owned-enterprise scrap company: Repercussions

State news agency, Xinhua, announced the formation of a new recycling company called China Resources Recycling Group (CRRG) in October 2024.The venture will have paid in capital of USD 1.41 billion and will be a joint venture of a host of China state-owned companies (SOE).

CRRG will be a joint venture of Baowu Steel (20%), China Petrochemical (20%), Assets Supervision and Administration Commission (20%), China Resources (20%) Aluminum Corporation of China (CHALCO-10%) and China Minmetals (10%).

Greg Wittbecker

Veteran aluminum executive Greg brings over 40 years of leadership experience from Alcoa, Cargill, and CRU. He offers rare depth in commercial strategy, policy analysis, and industry evolution, with expertise spanning the trading floor to the boardroom. You can reach Greg at Greg.Wittbecker@crugroup.com or 865-621-4564.