WEEKLY: China steel scrap prices slide, demand stable

Chinese ferrous scrap prices declined last week under the pressure exerted by domestic steelmakers, as mills attempted to shave input costs to offset their thinning margins, Mysteel's survey showed.

As of April 3, the country's national composite steel scrap price was assessed by Mysteel at Yuan 2,475/tonne ($338.6/t) including the 13% VAT, lower by a slight 0.7% from a week earlier. For blast furnace (BF) steelmakers, steel scrap remained more expensive than hot metal as a raw material, while