China metal recycling to step up acquisitions: Chairman

China Metal Recycling Holdings Ltd., the nation’s biggest scrap metal recycler, plans to step up domestic acquisitions as the global economic recovery reduces supplies from overseas.

The company, which counts Baosteel Group Corp. and Jiangsu Shagang Group Co. as customers, is seeking to buy major rivals in China’s northern, middle and eastern areas to consolidate the “much fragmented” market, Chun Chi Wai, chairman and chief executive, said in a phone interview, without giving details.