08
Aug
13:27
Chinese scrap slides as supply overtakes demand
China's scrap prices have been hit by a reduction in steel production. Domestic scrap supply is enough to meet mills’ needs, and import markets are silent.
On Monday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,756/tonne ($580/t) including VAT. This is up CNY 6/t since Friday but CNY 37/t lower compared with the previous Monday.
Data from information provider Fuba…
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Anonymous
Very good overview of the weekly steel market.
Anonymous