ASIA STEEL SCRAP DIGEST: China's domestic, import prices rebound amid bullish sentiment

September 04, 2021 / www.metalbulletin.com / Article Link

Major mills in China paid higher prices for domestic scrap amid bullish sentiment in the finished steel markets on Friday September 3, providing support for imported scrap spot prices, sources told Fastmarkets.

Chinese domestic buy prices rebound, keep import prices supportedMajor Vietnam holiday dampens spots liquiditySouth Korea books New Zealand scrapChina
The purchase prices for domestic steel scrap from Chinese mills rebounded in the week amid bullish sentiment in the finished steel products markets.
The most-traded rebar and hot-rolled coil futures contract on the Shanghai Futures Exchange (SHFE) ended daytime trading 2.37% and 4.25% higher respectively on Friday September 3.
Fastmarkets' weekly price assessment for steel scrap heavy scrap, domestic, delivered mill China was 3,670-3,790 yuan ($568-587) per tonne on September 3, widening upward by 80 yuan from 3,670-3,710 yuan on August 27. Disregarding VAT, that puts the China domestic scrap price at $494-510 per tonne.

"Some major mills in Jiangsu province raised their buy prices on Friday to increase their scrap arrival volume. Many mills from other regions followed suit. The domestic...

Recent News

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok