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Steel scrap stocks at China’s qualified yards off 17% MoM

The stocks of processed and unprocessed steel scrap held by the 291 licensed steel scrapyards in China decreased for a second month during November, tumbling by 17% on month. Chiefly responsible for the decrease was active procurement among domestic steelmakers plus a decrease in recycling activities in the market, sources said.
As of November 27, the scrap yards – all qualified by the country’s Ministry of Industry and Information Technology – wereholding 1.26 million tonnes of processed and unprocessed scrap. Within the total, inventories of processed scrap were lower by 20.2% on month at 762,300 tonnes, and those of unprocessed were down by 11.8% on

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