19
Nov
14:36
Chinese scrap plummets on steel mill overhauls
The Chinese scrap market has seen a sharp drop in prices as steel mills reduced their purchasing requirements. For steel mills, pig iron is still a more economical choice for imports.
On Friday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,120/tonne ($488/t), including VAT. This is CNY 43/t lower than Thursday and CNY 209/t lower than the previous Friday.
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Anonymous
Very good overview of the weekly steel market.
Anonymous