Steel price drop pressuring China scrap tags

Sep 22, 2011 | 04:09 PM |

Tags  China, steel, ferrous scrap

SHANGHAI, China — Falling steel prices have put pressure on China’s domestic ferrous scrap market as several small and medium-sized steel mills have lowered their scrap bids.

Mainstream heavy scrap prices in eastern China remained relatively stable at 3,810 to 3,870 yuan ($596 to $606) per tonne this week, widening from 3,840 to 3,870 yuan ($601 to $606) per tonne a week earlier, while some small and medium-sized steel mills lowered bids by 50 to 80 yuan ($7.80 to $12.50) per tonne in other parts of China. ....





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