CHINA STEEL SCRAP: Spot prices edge up on higher domestic scrap, steel prices

Spot prices for imported scrap in China edged up on Friday July 23 amid increasing domestic scrap and steel prices, sources told Fastmarkets.

Bids for imported HRS101 materials increased to $550-560 per tonne cfr northern China, against offers at $590-600 per tonne cfr China. The bids are equivalent to $540-550 per tonne cfr eastern China.
Some market participants said that spot prices had not increased due to the ongoing steel production cuts which have reduced demand for steelmaking raw materials such as steel scrap.
They maintained estimates for import prices into eastern China at $530-540 per tonne cfr.

Domestic scrap prices have increased in the week, with major steel mills looking...

Published

Paul Lim

July 23, 2021

10:53 GMT