- Cheaper Russia-origin P&S still not attractive to buyers in China
- Sharp drop in Chinese ferrous futures hampers scrap buying demand
- Uptrend continues in Taiwan imported containerized scrap.
Lower-cost steel scrap from Russia has emerged in the markets, but the prices were still not attractive to buyers in China, sources told Fastmarkets on Tuesday.
Russian suppliers were offering plate and structural scrap (P&S) in bulk at $545 per tonne cfr China, according to sources.
“The quality [of Russian scrap] may not always satisfy our standards. That is why, even though the price was much lower than scrap from other origins, such as Japan, we are still hesitant...