WEEKLY: China's ferrous scrap prices dip lower

Chinese prices for steel scrap continued to track south during the past week, pressed lower by the continued weakening of finished steel prices, Mysteel's latest survey showed.

On June 5, Mysteel assessed China's composite steel scrap price at Yuan 2,516/tonne ($371.9/t), slightly lower by Yuan 3/t or 0.1% from a week earlier, while the country's national spot price for HRB400E 20mm diameter rebar also dipped 0.4% on week to Yuan 3,409/t, both including the 13% VAT. With