MONTHLY: China ferrous scrap prices poised for mild growth in March

After rising steadily during the previous two months, Chinese prices for steel scrap are expected to continue to move upward overall in March, supported by rising scrap demand among steelmakers and tighter scrap availability, Mysteel's latest report on the market suggests.

During February, China's composite steel scrap price averaged Yuan 2,430/tonne ($352.2/t) including the 13% VAT, higher by 0.8% compared with the average price of January, according to Mysteel's assessment. Entering this month, prices had edged up further to reach Yuan 2,440/t as of March 3. Steelmakers have ramped up their