Stock building raises ferrous prices in China

Oct 19, 2007 | 07:45 AM |

China's ferrous scrap prices have risen as much as 135 yuan ($18) a tonne from a month ago as northern Chinese steel mills begin building stocks to take them through the winter, traders and officials said.

Heavy scrap in northern China jumped 70 to 100 yuan ($9 to $10) to 2,350 to 2,520 yuan ($313 to $336) a tonne this past week.

High-purity heavy scrap, equivalent to the bonus grade (five-foot plate and structural scrap) in international markets, gained as much as 135 yuan ($18) to 2,235 to 2,663 yuan ($298 to $355) a tonne.....

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