WEEKLY: Chinese ferrous scrap prices edge up further

Chinese prices of steel scrap continued to nudge higher throughout the past week in tandem with the rising prices of finished steel, the findings of Mysteel's latest survey showed. Scrap demand among steelmakers also recovered further.

On September 4, Mysteel assessed China's composite steel scrap price at Yuan 2,464/tonne ($367.1/t), slightly higher by Yuan 15.6/t or 0.5% from a week earlier, while the country's national spot price for HRB400E 20mm diameter rebar had increased by 1% on week to reach Yuan 3,338/t by the same