MONTHLY: China ferrous scrap prices to stay stable in April

After rising steadily for three months straight, Chinese prices for steel scrap are expected to fluctuate within a narrow range in April, with both the supply and demand of scrap materials increasing, Mysteel's latest report on the market suggests.

During March, China's composite steel scrap price averaged Yuan 2,478/tonne ($361.4/t) including the 13% VAT, according to Mysteel's assessment, which was higher by 2% from the average price during February. Entering this month, the price had slipped to Yuan 2,477/t as of April 7. Steel scrap demand experienced marked growth