UTC+8 ( BJT)

WEEKLY: China's steel scrap prices recover, stocks up

ABSTRACT

China's domestic steel scrap market recovered last week after the decreases logged over the prior five weeks, with Mysteel's steel scrap price index reversing up by Yuan 41.4/tonne ($6.5/t) on week to Yuan 3,254.7/t on delivery and including the 13% VAT as of November 26, driven mainly by the recovery in steel prices.
Domestic finished steel prices have been slowly recovering from the slumps in mid-October, sources noted, with the uptick in steel prices lending some support to steelmaking raw material prices including those of steel scrap.   As of November 26, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment, for example,

............

To read the full article take a free 7-day trial to Mysteel Global

FREE TRIAL
+65 6653 8227