China's steel scrap stocks at qualified yards climb to 7-month high

Inventories of ferrous scrap piled at scrap yards across China have risen steadily during the past two months as domestic scrap processors have benefited from improved market conditions, the findings of Mysteel's latest survey showed.

As of April 24, the stocks of processed and unprocessed steel scrap held by the 825 Chinese steel scrapyards qualified by the country's Ministry of Industry and Information Technology (MIIT) had increased for eight consecutive weeks to total 1.46 million tonnes, the highest since September last year, according to