China’s domestic scrap prices have rebounded by a certain extent with the recovery of the prices of mills’ steel products.
In the Jiangsu market, price for heavy scrap steel (6mm thickness above) stands at RMB2,250 to 2,350/ton (VAT included), up from RMB2,000 to 2,100 at the end of October.
However scrap supply still remain tight owing to higher stocks held by those suppliers who expected a higher price.
This situation was evidenced by difficult purchase for raw scrap as part of traders quoted over RMB2,400/ton for recent heavy scrap mentioned above. Source: Yieh.com
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Thursday, November 27, 2008
10:32 |
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