ASIA STEEL SCRAP DIGEST: Expectations of tighter output curbs pressure China prices

Increasing expectations of tighter production curbs in China have put pressure on scrap demand from steel mills in the country, weighing down imported scrap prices, sources told Fastmarkets on Wednesday September 22.

  • Sentiment in China sours because buyers expect tighter production curbs
  • Taiwanese buyers keep bids stable
  • Shredded import prices rangebound in India
China
Bids for import cargoes of steel scrap into China fell on Wednesday, which was the first day of trading in the country this week after China's Mid-Autumn Festival holiday.
Fastmarkets’ calculation of the steel scrap, index, heavy recycled steel materials, cfr north China was at $528.25 per tonne on September 22, down by $1.75 per tonne from the index on Friday September 17.

“Our bids for...

Published

Lee Allen

Paul Lim

Carrie Bone

Tianran Zhao

September 22, 2021

11:38 GMT

Singapore, Shanghai, London