US scrap prices to China slide on higher-than-expected supply

US scrap prices to China have fallen below $400 per tonne cfr, after supply exceeded market expectations.

Offers of US HMS1&2(80:20) stood at about $395 per tonne cfr, down $5 per tonne from a week ago, a steel mill source in Jiangsu told Metal Bulletin sister title Steel First. Offers of shredded material also fell by the same amount to about $405 per tonne cfr, the source added....


November 21, 2012

04:45 GMT