Finished steel uptick lifts Chinese scrap prices

China's scrap market pulled up strongly on April 23, mainly due to buoyant sentiment from the finished steel market and to traders' joint efforts to prop up prices. Among all scrap markets nationwide, that in East China showed the sharpest growth, with Mysteel's 6-8mm carbon scrap steel price in Zhangjiagang gaining 5% or Yuan 100/t ($15.8/t) on day to Yuan 2,100/t excluding the VAT.

China’s scrap market pulled up strongly on April 23, mainly due to buoyant sentiment from the finished steel market and to traders’ joint efforts to prop up prices. Among all scrap markets nationwide, that in East China showed the sharpest growth, with Mysteel’s 6-8mm carbon scrap steel price in