17
Feb
15:32
Supply surge suppresses scrap prices in China
China's scrap steel market last week started to fall as supply rose rapidly. Shagang lowered scrap purchase prices due to electric arc furnace maintenance, dampening market sentiment.
On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,105/tonne ($451/t), including VAT. This is up CNY 12/t from Thursday but down CNY 6/t from the previous Friday.
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Anonymous
Very good overview of the weekly steel market.
Anonymous