China's steel scrap stocks at qualified yards start falling

After rising since early May, inventories of ferrous scrap stocked in scrapyards throughout China have been falling slowly but steadily this month as steel scrap processors have slowed their operations, Mysteel's latest survey showed.

As of July 23, the stocks of processed and unprocessed steel scrap held by the 825 steel scrapyards qualified by the country's Ministry of Industry and Information Technology (MIIT) totaled 1.46 million tonnes, slightly lower by 0.7% from a month earlier, according to Mysteel's tracking. The rise in daytime temperatures