January 25, 2002




Quotation Nation

Thursday, Jan. 24, 2002 10:22 p.m. EST

China Buying Twin Tower Scrap Steel, Denies Souvenir Report

One of China's largest steelmakers, Bao Steel of Shanghai, has acknowledged the purchase of 50,000 tons of scrap metal salvaged from the World Trade Center disaster site in New York.

An initial report in Beijing's "Youth Daily" claimed that Bao Steel planned to turn the WTC steel into souvenirs, "taking into consideration the unique historical value and commemorative significance" of the wreckage. The souvenirs could be molded into the form of miniature Twin Towers, the paper said.

But a spokeswoman for Bao Steel denied the souvenir report, telling Agence France Presse, "We have bought the scrap steel, but just for recycling and reprocessing because the quality is good. It was made in Japan. It's absolutely impossible to make souvenirs because that will affect the relations" between the U.S. and China.

A ship carrying the Twin Tower scrap metal is expected to arrive in China on Friday. Bao Steel paid $120 per ton for the WTC scrap metal.

It is the only Chinese company to have purchased steel salvaged from Ground Zero, AFP said.