31
Dec
13:45
Chinese scrap slumps on weak steel market
The Chinese scrap market has entered a period of panic sales under the influence of lower steel prices last week. Oversupply represents the current pattern of the market.
On Friday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,559/tonne ($560/t), including VAT. This is a CNY 3/t down from Thursday and CNY 45/t lower than the previous Friday.
Data from informat…
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Anonymous
Very good overview of the weekly steel market.
Anonymous