WEEKLY: China's ferrous scrap prices weaken again

Chinese prices of ferrous scrap fell marginally during the past week, dragged down by the decline in prices of finished steel, Mysteel's latest survey showed.

On November 7, Mysteel assessed China's national steel scrap price at Yuan 2,438/tonne ($342.5/t), down by 0.1% from a week earlier, while the national spot price for HRB400E 20mm diameter rebar was assessed 1.1% lower on week at Yuan 3,225/t on the same day, both including the 13% VAT. Market