27
Apr
16:38
Chinese scrap prices struggle despite higher usage rate
Major Chinese steel mills have reported increasing scrap usage according to the China Association of Metalscrap Utilisation (CAMU). Domestic scrap prices have kept falling however due to closures of both mislabelled steel capacity and small electric arc furnaces. Overall, Chinese scrap oversupply is due to remain despite high scrap usage rates.
Some Chinese steelmakers are reportedly approaching the limit of scrap use in BOFs of around 25%. As these mi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous