WEEKLY: China's ferrous scrap prices soften again

After a brief rebound in the previous week, Chinese prices for ferrous scrap retreated again during the week to last Friday, dragged down by weakening prices for finished steel products, Mysteel's latest survey showed.

As of December 12, China's composite steel scrap price stood at Yuan 2,404/tonne ($240.8/t) including the 13% VAT, slightly lower by 0.4% from a week earlier, while the country's national spot price for HRB400E 20mm diameter rebar dropped by 1.1% on week to reach Yuan 3,289/t, both including the