Value chain and statistical entropy analyses based on iron flows in China during 1990-2015

The iron and steel industry in China has experienced vast changes over the past thirty years. To have a precise knowledge of the circumstances behind its evolution, it is essential to perform an iron flow analysis. Accordingly, iron flow analysis for the years 1990-2015 was conducted. Firstly, the iron natural resource efficiency, Chinese steel scrap index, and Chinese iron ore support ratio which can reflect the running status of China's iron and steel industry for these six years (1990, 1995, 2000, 2005, 2010, and 2015) were analyzed; thereafter, value chain and statistical entropy analyses were conducted based on the iron flow analysis, and some interesting results were obtained. Discussions and conclusions based on the results along with the recommendations for the China's iron and industry were proposed.