WEEKLY: China's ferrous scrap prices edge down after holiday

China's steel scrap prices fell slightly after the country’s National Day holiday over October 1-7, extending the weakness that emerged during the latter part of the holiday, Mysteel's latest survey showed.

Mysteel assessed China's composite steel scrap price at Yuan 2,448.6/tonne ($366/t) including the 13% VAT on October 10, a substitute workday for the seven-day holiday, lower by Yuan 7.3/t from the level seen before the holiday. The same day, the average price of the carbon steel scrap with a thickness of more than 6cm at East China's Zhangjiagang