WEEKLY: China's ferrous scrap prices stable, mills' stocks rise further

Chinese prices for ferrous scrap stayed flat during the week to last Friday, with domestic supply and demand for scrap materials both remaining stable, the results of Mysteel's latest survey showed.

As of December 19, Mysteel's assessment of the composite steel scrap price nationwide was largely unchanged from a week earlier at Yuan 2,403/tonne ($341.3/t) including the 13% VAT, though it dipped by a tiny Yuan 1/t on week. Over December 15-19, the combined volume of steel scrap consumed by the