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WEEKLY: Steel scrap prices in Asian market weaken

Steel scrap prices in some regions of Asia softened further over the week of September 18-25, with prices of both imported and exported scrap moving downward, according to Mysteel’s latest survey.
In China, Shagang Group, the country’s largest electric-arc-furnace steelmaker in East China’s Jiangsu province, trimmed its HMS grade scrap procurement prices on two successive days – September 24 and September 25 – by a total of Yuan 100/t ($14.7/t). The company had cited the rise of scrap stocks at its plant,as reported. Accordingly, Mysteel’s steel

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