High import prices drive off Chinese mills

Mar 06, 2013 | 03:47 PM |

Tags  China scrap, ferrous scrap, scrap imports, Jiangsu Shagang Group

SHANGHAI — Chinese steel mills remain on the sidelines of the international scrap market, unable or unwilling to pay higher prices.

"Offers (for an 80/20 mix of U.S. No. 1 and No. 2 heavy melting scrap) stood high at $435 to $440 per tonne c.f.r. China, much higher than what we can....

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