MONTHLY: China's ferrous scrap prices to edge lower in July

After falling steadily in June, China's steel scrap prices will probably continue tracking mildly lower throughout July as scrap demand among domestic steelmakers weakens further, Mysteel's latest market report on the commodity suggests.

As of June 30, China's composite steel scrap price had dropped 1.2% on month to Yuan 2,489/tonne ($266.3/t) including the 13% VAT, and by July 1 the price had slid further to Yuan 2,479/t, according to Mysteel's assessment. With summer gradually setting in, China's steel market will fully enter the