CHINA STEEL SCRAP: Bullish sentiment continues in import market

China’s steel scrap import prices narrowed upward on Wednesday April 14, with rises in finished steel prices driving momentum in the market.

The country’s steel mills continued to raise their bids for imports of HRS101-grade scrap, with at least one bid heard at $490-495 per tonne cfr eastern China.
The highest bid from northeast China reached $500 per tonne cfr China on Wednesday, which sources said was equivalent to $490 per tonne cfr eastern ports - a rise of $5 per tonne day on day. Another bid was heard at $495 per tonne cfr Bayuquan port in the northeast province of Liaoning.

The rising trend in imported scrap bids was supported by robust demand from downstream...

Published

Lee Allen

Tianran Zhao

April 14, 2021

15:45 GMT

Shanghai, Singapore