CHINA STEEL SCRAP: Prices strong amid high local Japanese demand

Prices for imported ferrous scrap continued to increase on Thursday April 22 amid market chatter of import transactions at $505 per tonne cfr north China, sources said.

Fastmarkets heard that a bulk cargo of heavy scrap (HS) from South Korea was sold at $505 per tonne cfr North China to a mill in the Tangshan area on Wednesday April 21. 
The highest offers for HS from Japan were heard at $515-520 per tonne cfr north China, which is equivalent to $505-510 per tonne cfr east China, sources said.
Bids for HS cargoes were heard at $505 cfr north China, although one eastern Chinese mill source said he would only pay $495 cfr at maximum.

Fastmarkets’ price assessment for steel scrap, heavy recycled steel materials, cfr China,...

Published

Lee Allen

Paul Lim

Tianran Zhao

April 22, 2021

11:55 GMT

Singapore, Shanghai