WEEKLY: China's ferrous scrap market stays stable during holiday

China's steel scrap market was largely quiet during the country's National Day holiday over October 1-7, Mysteel's latest survey showed, as many traders temporarily closed their businesses to enjoy the holiday break.

As of October 7, the average price of the 6-8mm common carbon steel scrap in the 45 Chinese cities Mysteel monitors was Yuan 2,045/tonne ($305/t) excluding the 13% VAT, unchanged from the last day before the holiday. Most steelmakers had already built sufficient feedstocks by late September to ensure that