Scrap stocks at China's qualified yards fall for 3rd week

The stocks of processed and unprocessed steel scrap held by the 584 licensed scrapyards across China decreased for the third straight week during March 17-23, slipping by another 0.9% on week, Mysteel's assessment showed. Mainly responsible was the decrease in scrap availability among scrap suppliers, sources suggested.

By March 23, the scrapyards, all qualified by the Ministry of Industry and Information Technology, were holding a total of 1.35 million tonnes of processed and unprocessed scrap. Within the total, inventories of processed scrap were higher by a tiny 0.6% on week at 968,600 tonnes, and those of