CHINA STEEL SCRAP: Import prices up again on steel market surge

Prices for steel scrap imported into China rose on Monday May 10 amid a surge in downstream steel product prices in the country.

Futures trading on Monday morning was at a frenetic pace which was repeated by physical spot prices later in the day, with the futures contracts for hot-rolled coil (HRC), rebar and iron ore all hitting their maximum daily increase limits.
Domestic rebar prices jumped on Monday to their highest levels since May 16, 2008, while HRC prices continued to set new all-time records.

Import prices for steel billet have risen several times over the past few days, with a Malaysia-origin cargo of 30,000 tonnes of billet heard sold at $730 per tonne fob, which sources said...

Published

Lee Allen

Tianran Zhao

May 10, 2021

11:37 GMT

Shanghai, Singapore