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China qualified yards' scrap stocks down 5% MoM in Apr

ABSTRACT

The stocks of processed and unprocessed steel scrap held by the 406 licensed steel scrapyards in China reversed down during April after the prior month's increase, dropping by 5% from March. Chiefly responsible for the decrease was slower recycling activities in the market when procurement among domestic steelmakers was active.
By end-April, the scrapyards, all qualified by the country's Ministry of Industry and Information Technology, were holding a total of 1.11 million tonnes of processed and unprocessed scrap. Within the total, inventories of processed scrap were lower by 4.6% on month at 796,400 tonnes, and those of unprocessed were down

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