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Firms signaled slightly quicker rises in output and overall new work, while employment increased for the first time in over five years … Sentiment regarding the 12-month business outlook improved to a ten-month high, amid hopes of further improvements in market conditions.”
But trade barriers have translated into a disconnect between China’s manufacturing output and Chinese scrap import demand from the United States. According to trade data from the Census Bureau, the value of total U.S. scrap exports to mainland China plunged to $173 million in January 2019. For comparison’s sake, the U.S. exported nearly $1.16 billion of scrap to China in the month of August 2011:
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