Export volumes of steel products from China will stay low in 2018, which will raise demand for scrap in other Asian countries, the International Rebar Producers & Exporters Association (Irepas) said on Wednesday January 10.
"For the first quarter of 2018, we can expect steel exports from China to remain reduced, which will continue to drive local steel mill demand elsewhere," Irepas said."Many countries in Asia have relied on Chinese semi-finished steel for the past four or five years. Last month, more destinations reopened for scrap imports because meltshops must be restarted in Asia," it added.Metal Bulletin's prices for Northern Europe-origin ferrous scrap in the...