CHINA STEEL SCRAP: Import prices stable on limited spot activity

Import prices for high-grade ferrous scrap HRS101 into China were stable on Wednesday July 21 amid limited spot trading activity, sources told Fastmarkets.

Major steel mills continued to view offers for imported cargoes as excessively high and unreflective of market fundamentals in China, especially with steel production cuts dampening spot demand.
“Now is not a good time to do scrap imports because of the large buy-sell gap,” a trader in eastern China told Fastmarkets.

Chinese buyers maintained bids at $540-550 cfr...

Published

Paul Lim

July 21, 2021

10:44 GMT

Singapore