WEEKLY: China's ferrous scrap prices slide, demand rises further

After strengthening steadily for several weeks straight, Chinese ferrous scrap prices tracked slightly lower during the last week of February, dragged down mainly by the weakening of steel prices, the results of Mysteel's latest survey showed.

On February 28, the country's national composite steel scrap price was assessed by Mysteel at Yuan 2,551/tonne ($350.2/t), dipping by Yuan 10.6/t from the prior week, while that of HRB400E 20mm diameter rebar had lost Yuan 47/t on week as of Friday to reach Yuan 3,441/t, both including the