WEEKLY: Asia sees steel scrap prices trend downward

The Asian steel scrap market witnessed a decrease in prices in many regions over the week of October 22-29 in line with the softening of prices globally, according to Mysteel's latest survey.

As of October 29, Mysteel's steel scrap price index for China had decreased for the second week by another Yuan 94.8/tonne ($14.8/t) on week to Yuan 3,660.8/t on delivery and including the 13% VAT. This was in line with the recent slide in Chinese domestic steel prices. "The decline in