WEEKLY: Chinese ferrous scrap prices edge lower

Chinese prices of steel scrap continued to move downward during the past week, in parallel with the further decline in finished steel prices, Mysteel's latest survey showed.

On September 20, a substitute workday of China's National Day holiday over October 1-7, Mysteel assessed China's composite steel scrap price at Yuan 2,459/tonne ($367.1/t), slightly lower by Yuan 4.3/t or 0.2% from a week earlier, while the country's national spot price for HRB400E 20mm diameter rebar also slipped