WEEKLY: China ferrous scrap prices largely stable, demand expands

Prices of ferrous scrap in different regions of China showed mixed trends over the past week, with national prices holding largely steady amid expanded scrap demand and rising finished steel prices, Mysteel's latest survey showed.

As of April 24, China's national composite steel scrap stood unchanged on week at Yuan 2,478/tonne ($362.5/t), while the national spot price for HRB400E 20mm diameter rebar increased by 1.1% on week to reach Yuan 3,391/t, both including the 13% VAT, according to Mysteel's assessments. "Scrap prices in southern China actually strengthened last