Copying and distributing are prohibited without permission of the publisher

Shagang lowers scrap offers despite rebar rally

July 23, 2010 - 02:04 GMT Location: Shanghai

KEYWORDS: China , scrap , price , Shagang

Shagang, China's largest scrap consumer, has cut its bid for heavy scrap to 2,840-2,940 yuan ($418-433) per tonne, down 30 yuan, shrugging off the rebar price rebound.

"Shagang's cutting of scrap offer prices aims to tell the market the rebar rally is only temporary, and it will take some time before it will boost scrap prices," a Shagang official in Shanghai told...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


subscribe to this feed Comment & analysis

  • LORD COPPER: Glencore-Xstrata will be a merger of more-than-equals

    Glenstrata, X-Core, Davenberg, Mivan? Whatever the result of the Glencore-Xstrata merger is to be called, finding a name is an inevitable step after the IPO.

  • COMMENT: Glenstrata still has to break the mould

    The news that Glencore and Xstrata are in merger talks would only come as a surprise to someone living under a rock, and only then if said rock did not contain any valuable minerals. But now that talks of a tie-up of the world’s largest metals trader and its fourth largest miner have finally moved into the boardroom, hypothetical questions have become real, and the answers are far from certain.

  • APEX FULL YEAR 2011: Base metal forecasts: astounding accuracy

    Astounding upon astounding: that is how the 2011 leaderboard for Apex, the Metal Bulletin service that tracks the performance of over twenty top base metal price forecasters, appears when you consider it coldly.

Upcoming Events

Most readMost emailed

Popular Searches on MB

MB Glossary


From Aluminium to Zinc...
Search this free glossary on metals