CHINA STEEL SCRAP: Prices rising amid new deals but jitters remain

Chinese import prices for high-grade heavy scrap (HS) have continued to increase, with a transaction concluded for a 3,000-tonne HS cargo from South Korea this week, sources said on March 2.

One bulk cargo was sold into China at $495 per tonne cfr and was purchased by a trader who has backing from a steel mill, sources said.
Another transaction was heard at $490 per tonne cfr China for 3,000 tonnes of Japanese HS in bulk in recent days while South Korean HS was heard sold in containers at $475 per tonne cfr China in the last few days.

Bids from buyers were heard at $480-500 per tonne cfr China in the market today for bulk HS. Key market participants' estimates of a current tradeable range were mixed, indicating a wide gap of $485-500 per...

Published

Lee Allen

Jessica Zong

Paul Lim

March 02, 2021

11:10 GMT

Singapore, Shanghai