CHINA STEEL SCRAP: Bullish sentiment wins out while steel prices rebound

Sentiment in the China import scrap market has turned bullish after downstream steel prices rebounded on Tuesday April 13.

Chinese steel mills have continued to bid at high prices for HRS101 imports, including at $487-490 per tonne cfr east China and $500 per tonne cfr northeast China.

Offers were at $500 per tonne cfr east China and $510-515 per tonne cfr northeast China.

"Offers have been high because freight rates remain very high," a trader in east Asia said.

Exporters continue to struggle to find vessels with capacity of 2,000 tonnes all...

Published

Lee Allen

Paul Lim

Tianran Zhao

April 13, 2021

10:48 GMT

Shanghai, Singapore