MYSTEEL: China's steel scrap stocks at qualified yards at 3.5-year low

After falling rapidly during January-February, inventories of ferrous scrap piled at scrap yards across China have notched the lowest levels in the past few years due to the relatively weak business activities among domestic scrap processors, but the stockpiles started to rebound entering March, Mysteel's latest survey results showed.

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 Technology (MIIT) had registered a multi-year low of 852,568 tonnes by February 27 before rebounding by 3.7% to reach 884,223 tonnes on March 13,