25
Feb
13:56
Chinese scrap declines on new policy pressure
China's scrap market saw sentiment slide last week, although scrap consumption continued to climb. The implementation of the new scrap tax policy has stimulated suppliers to add shipments, but mills have also taken the opportunity to drive down scrap prices.
On Friday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,641/tonne ($577/t), including VAT. This is CNY 20/t lo…
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Anonymous
Very good overview of the weekly steel market.
Anonymous