WEEKLY: China's ferrous scrap prices remain stable, demand retreats

Chinese prices for ferrous scrap stayed stable during April 27-30 as domestic scrap supply and demand both shrank marginally ahead of the country's May Day holiday over May 1-5, Mysteel's latest survey showed.

Mysteel's assessment of the national composite steel scrap held largely steady on week at Yuan 2,482/tonne (363.3/t) including the 13% VAT as of April 30, or nudging higher by 0.1% from April 24. Subsequently over May 1-5, the country's steel scrap prices showed limited movements as trading activities in the