China scrap prices likely to stay rangebound in Sept

Source: Mysteel Sep 04, 2019 16:00

Domestic prices of steel scrap are likely to stay rangebound this month, Chinese market watchers said Wednesday, citing mainly the notable fall in scrap usage among steelmakers.

China’s steel scrap prices have displayed signs of weakening over the past month, with Mysteel’s scrap price index reaching Yuan 2516.3/t ($354.4/t) on delivery and including the 13% VAT as of August 30, lower by Yuan 125/t or 4.7% on month and hitting a near five-month low, according to