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Chinese domestic scrap prices narrow to $419-435

July 15, 2010 - 05:12 GMT Location: Shanghai

KEYWORDS: China , ferrous scrap , price

China's ferrous scrap prices remained relatively stable this week, narrowing to 2,840-2,950 yuan ($419-435) per tonne from last week's 2,830-2,970 yuan per tonne.

Domestic rebar prices continue to fall but the decline of ferrous scrap prices since late-June looks set to slow. Shagang, China's largest ferrous scrap consumer, kept its offer to buy unchanged at 2,970 yuan per tonne from July 4. "Shagang's offer is usually higher. Mainstream domestic prices are at around 2,900 yuan per tonne," said...

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