(MB) Heavy scrap pricing defies correction in steel market

Mar 03, 2011 | 09:21 AM |

Tags  China, heavy scrap, prices, steel, Baosteel, Shagang, Shanghai

SHANGHAI, China — Chinese heavy scrap prices were stable this week despite corrections in the steel market, with mainstream market prices at 3,720 to 3,780 yuan ($565 to $574) per tonne with tax in eastern China.

Only a few southern China steel mills cut scrap bids by 50 yuan ($7.60) per tonne, sources said.....

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