WEEKLY: China ferrous scrap prices stay stable

Chinese prices of steel scrap stood largely stable over the past week, with the supply and demand of scrap materials shrinking across the country, the findings of Mysteel's latest survey showed.

On August 21, Mysteel assessed China's composite steel scrap price at Yuan 2,440/tonne ($363/t), unchanged from the previous week, while the country's national spot price for HRB400E 20mm diameter rebar edged up 0.4% on week to reach Yuan 3,237/t, both including the 13% VAT. Finished steel prices ticked up last