ASIA STEEL SCRAP DIGEST: Prices inch up in China amid buyer optimism

Firmer Chinese steel markets have been supporting sentiment in the Chinese scrap market, keeping buyers optimistic about September and October, sources told Fastmarkets on Tuesday August 31.

Prices in China inch up amid buyer optimismTaiwanese buyers could start paying moreChina
Spot prices for steel scrap imported into China edged up on Tuesday August 31 amid improving sentiment in the steel markets, sources said.
Fastmarkets' calculation of the steel scrap, index, heavy recycled steel materials, cfr north China, was $534.64 per tonne on August 31, up by $0.47 per tonne from Monday's index and up by $4.22 per tonne from the Friday August 27.

"We are observing stronger end-user demand for rebar recently, which is supporting buyers' expectations for scrap prices. We just need to wait and see to what extent [the bullish...

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