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

China's steel scrap prices held steady during the past week, even though prices of finished steel generally softened, the findings of Mysteel's latest survey showed. Steelmakers' replenishment demand underpinned the scrap prices, Mysteel Global noted.

On January 30, Mysteel assessed China's composite steel scrap price largely flat on week at Yuan 2,417/tonne, higher by a marginal 0.1% from a week earlier, while the country's national spot price of HRB400E 20mm diameter rebar dipped 0.2% on week to Yuan 3,316/t, both including the 13% VAT. "Some