MONTHLY: Stocking demand to support China ferrous scrap prices in Dec

Chinese ferrous scrap prices are expected to strengthen this month, gaining momentum from steelmakers' stronger demand as they begin replenishing feed materials for their production in winter, according to Mysteel's latest report on the market.

Entering this month, scrap prices have already firmed, with the national composite steel price being assessed by Mysteel at Yuan 2,609.78/tonne ($358.5/t) including the 13% VAT as of December 3, higher by 1.2% from the end of November. With Chinese New Year (CNY) less than two months away, domestic steel