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WEEKLY: Asian steel scrap prices continue to move higher

Most Asian steel scrap markets continued to perform well over the week of November 20-27, with steel scrap prices in many regions hovering at near-term record highs, Mysteel’s latest weekly survey found.
In China, Mysteel’s steel scrap price index increased by another Yuan 24.8/tonne ($3.8/t) on week to Yuan 2,718.6/t on delivery and including the 13% VAT as of November 27, refreshing its more than 7.5-year high. The rise reflected steelmakers’firm demand, as well as stronger prices of other raw materials such as iron ore and

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