CHINA STEEL SCRAP: Market maintains upward trend on renewed buying interest

The import price for heavy scrap (HS) into China maintained its upward trend this week, with more buying interest heard in the spot market amid climbing prices in the region.

Fastmarkets’ price assessment for steel scrap, heavy recycled steel materials, cfr China was $475-480 per tonne on Wednesday April 7, up by $15 from $460-465 per tonne on April 6. This followed a $5 narrowing in the range the day before from $455-465 per tonne.
China's appetite for imported steel scrap has risen following a sharp uptick in Chinese domestic and export steel prices over the past week, market participants told Fastmarkets.

Buyers have increased their bids for imported HRS101 scrap to $470-480 per tonne cfr northern China, while one eastern China buyer was heard to be bidding...

Published

Lee Allen

Paul Lim

April 07, 2021

11:16 GMT

Singapore