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17 Mar

China's scrap declines on weak steel market

China's scrap prices fell sharply last week, and the turmoil in the steel market made raw material prices plummet. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 3,136/tonne ($455/t), including VAT. This is down CNY 18/t from Thursday and CNY 17/t from the previous Friday. It is also CNY 57/t lower compared to Monday. Data from information provider Fubao sh…
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