MONTHLY: China's ferrous scrap prices seen rangebound in September

After rising firmly in August, Chinese prices for ferrous scrap are expected to fluctuate within a narrow range in September, with steel scrap supply and demand both expanding marginally, according to Mysteel's latest report on the market.

Last month, domestic steel scrap prices were driven steadily higher by growing scrap consumption among steel mills. By August 29, the country's national composite steel scrap price was at Yuan 2,395/tonne ($335/t) under Mysteel's assessment, higher by 1.5% from the end of July. Entering this month though, the price