China's H1 demolition ferrous scrap supply slumps 43% YoY

The volume of ferrous scrap recycled from construction sites in China in the first half of this year declined significantly compared with the same period last year, the results of Mysteel's latest survey show, a further symptom of the slowdown in progress on domestic property projects. Entering H2, recycling of demolition steel scrap is expected to continue hovering at low levels, the survey findings suggest.

During January-June, the quantity of steel scrap collected from demolition sites by the 105 scrap recycling companies under Mysteel's regular tracking totalled 355,060 tonnes, lower by a substantial 43.1% on year. By the end of June, the total scrap inventories held by these sampled 105 companies stood at 33,205 tonnes,