Chinese steelmakers have wasted no time in booking ferrous scrap from abroad following a change in the country's import rules for the steelmaking raw material, with purchases of several cargoes from Japan agreed in the last few days.
A notice released by the Chinese Ministry of Ecology & Environment late on December 31 formally confirmed the relaxation of steel scrap import regulations for material arriving in China.Market sources said the cargo was made up of higher-grade plate and structural (P&S) scrap,...