WEEKLY: China ferrous scrap prices dip, mills' stocks keep mounting

Chinese prices for steel scrap nudged lower last week in parallel with the falling prices of other ferrous products, though demand for scrap materials among domestic steelmakers picked up, the results of Mysteel's latest survey showed.

On January 23, Mysteel assessed China's composite steel scrap price at Yuan 2,414/tonne ($346/t), slightly lower by 0.1% from a week earlier, while the country's national spot price of HRB400E 20mm diameter rebar had edged down by 0.9% on week to Yuan 3,321/t, both including the 13% VAT. The drops