WEEKLY: Chinese ferrous scrap prices dip marginally

After a four-week uptick of around Yuan 30/tonne ($4.5/t), Chinese prices of steel scrap softened slightly during the past week, in tandem with weakening finished steel prices, the findings of Mysteel's latest survey showed.

On September 11, Mysteel assessed China's composite steel scrap price at Yuan 2,463/t ($367.2/t), down by a tiny Yuan 0.41/t from a week earlier, while the country's national spot price for HRB400E 20mm diameter rebar had also decreased by Yuan 10/t or 0.3% on week to reach Yuan 3,328/t by the same day,