WEEKLY: China's ferrous scrap prices rebound slightly, but demand falters

After falling continuously in the previous four weeks, Chinese prices for ferrous scrap rebounded slightly during the past week in tandem with the strengthening of the prices for finished steel products, Mysteel's latest survey showed.

Mysteel assessed China's composite steel scrap price at Yuan 2,417/tonne ($342/t) on December 5, edging up by 0.3% from a week earlier, while the national spot price for HRB400E 20mm diameter rebar gained a larger 1.1% on week to reach Yuan 3,326/t, both including the 13% VAT. The steady decline