WEEKLY: China ferrous scrap prices nudge higher

Chinese prices of steel scrap moved upward marginally over the past week, mainly driven by the increases seen in the prices for finished steel products, the findings of Mysteel's latest survey showed.

As of August 28, Mysteel assessed China's composite steel scrap price at Yuan 2,448/tonne (364/t), slightly higher by Yuan 8/t or 0.3% from a week earlier, while the country's national spot price for HRB400E 20mm diameter rebar gained a larger 2.1% on week to reach Yuan 3,304/t by the