CHINA STEEL SCRAP: Deal prices increase on billet, steel price surges

Prices for imported ferrous scrap to China increased on Friday May 7 amid transactions heard concluded at $527-529 per tonne cfr northern China.

Offers were heard at $530-535 per tonne cfr northern China for HRS101 ferrous scrap, which is equivalent to around $520-525 cfr eastern China. The offer prices were up by $5 compared with a day earlier.
There were limited bids heard on Friday because China had just returned from the Labor Day holidays. Bids were heard at $500-505 per tonne cfr northern China, which is equivalent to around $490-495 cfr eastern China.

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