WEEKLY: China's scrap prices up on rising demand

China's market for ferrous scrap strengthened over the short week following the country's May Day holiday (April 29-May 1), with the carbon steel scrap price in Zhangjiagang in East China's Jiangsu province gaining Yuan 80/t ($12.6/t) or 3.8% on week to Yuan 2,210/t excluding the VAT, as of May 4.

China’s market for ferrous scrap strengthened over the short week following the country’s May Day holiday (April 29-May 1), with the carbon steel scrap price in Zhangjiagang in East China’s Jiangsu province gaining Yuan 80/t ($12.6/t) or 3.8% on week to Yuan 2,210/t excluding the VAT, as of May