14
May
16:31
Chinese steel scrap soars in frenzied market
Chinese scrap prices first soared and then fell in a frenzied market last week. Steel mill arrivals have decreased but demand is still growing.
On Friday, Kallanish assessed Chinese 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 4,116/tonne ($640/t) including VAT. This is down by CNY 64/t from Thursday but CNY 426/t higher compared with the previous Friday.
Data from information provider Fubao s…
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Anonymous
Very good overview of the weekly steel market.
Anonymous