21
May
09:29
Chinese scrap slumps on weaker steel market
The Chinese scrap market has fallen rapidly following the collapse of steel prices last week. The negative trend also caused importers to pull back from the market.
On Friday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,789/tonne ($589/t) including VAT. This is down by CNY 91/t from Thursday but still CNY 328/t higher compared with the previous Friday.
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Anonymous
Very good overview of the weekly steel market.
Anonymous