MONTHLY: Downside room seen for China's ferrous scrap prices in Oct

China's ferrous scrap prices are projected to fluctuate at a low level in October, as demand for finished steel is likely to stay lackluster, prompting mills to push for lower steel scrap prices, Mysteel's latest monthly report on the commodity suggests.

During the first half of September, domestic scrap prices had drifted higher in tandem with rising finished steel prices as market players looked forward to a pickup in steel consumption. However, scrap prices softened in the second half – along with the fall in rebar prices – as end-user