Difficult year for China’s ferrous scrap trade

Dec 20, 2012 | 09:20 AM |

Tags  ferrous scrap, scrap prices, scrap trade, China Metal Recycling, Chiho-Tiande Group, China Association of Metal Scrap Utilization

SHANGHAI — Ferrous scrap trade proved to be challenging this year in China as prices remained under pressure, having fallen for almost three quarters of the year.

Turmoil in China’s steel markets drove price volatility, leading many companies in this fragmented market to face financial troubles.

While scrap prices in China had largely trended upward since the global financial crisis, average prices this year are on course to drop 20 percent from 2011 levels.

The price swings really demonstrate the volatile course of the market.

The first quarter was disappointing, as the typical seasonal rebound in scrap prices failed to materialize and prices remained steady as demand difficulties in the steel market began to emerge.....

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