China qualified yards' steel scrap stocks hover low

Inventories of ferrous scrap sitting in scrap yards across China are hovering at their lowest level for any late-December period for many years, as the yards' appetite for winter stocking remains weak, Mysteel's latest survey showed.

As of December 26, the total stocks of processed and unprocessed steel scrap held by the 584 Chinese steel scrapyards qualified by the country's Ministry of Industry and Information had increased by 1% on month to 947,623 tonnes, but the volume was lower by a significant 10.4% compared with