WEEKLY: China's ferrous scrap demand grows further

Demand for ferrous scrap among Chinese steel producers continued to strengthen during the past week, Mysteel's latest survey showed. Production by electric-arc-furnace (EAF) steelmakers increased, while blast furnace (BF) mills could shave their feed costs a little more by replacing some hot metal with steel scrap, the results showed.

During November 24-28, the combined consumption of steel scrap among the 300 BF and EAF steel mills under Mysteel's tracking averaged 557,740 tonnes/day, higher by 0.8% from the previous week. The increase in scrap use was attributed mainly to EAF mills' ramping up output after the mini-mills saw their steel