China steel price rise stirs interest in scrap

Jul 24, 2013 | 11:58 AM |

Tags  China steel mills, ferrous scrap, scrap imports, scrap prices, steel prices, rebar, iron ore, Shagang Group Changzhou Zenith Steel

SHANGHAI — Chinese steel mills and traders returned to the ferrous scrap import market this week, hot on the heels of a rise in domestic steel prices.

Shagang Group Inc., China’s largest scrap consumer, booked four bulk cargoes of U.S. material this week. Three of those cargoes were for shredded scrap booked at about $365 per tonne c.f.r. and one cargo of an 80-20 mix of No. 1 and No. 2 heavy melting scrap at....

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