WEEKLY: China ferrous scrap prices stay stable, demand falls further

After sliding steadily for over a month, Chinese prices of steel scrap stabilized during the past week as domestic supply and demand for scrap materials both shrank further, Mysteel's latest survey results showed.

On July 17, Mysteel assessed China's composite steel scrap price unchanged on week at Yuan 2,439/tonne ($360.1/t), or up by just Yuan 1.1/t from a week earlier. In parallel, the country's national spot price for HRB400E 20mm diameter rebar edged up 0.3% on week to Yuan 3,296/t, both including