European plate and structural (P&S) scrap is emerging as a possible source of imported ferrous scrap for Chinese mills at competitive prices to Japanese heavy scrap (HS) materials, Fastmarkets heard.
A 10,000-tonne P&S cargo from Europe was heard sold to a major eastern China steel mill at $460-470 per tonne cfr China this week, although the rumored buyer did not confirm this. P&S is the name given to the scrap grade known as HS in Japan and as heavy scrap in China."Everyone is wild about China," a trader source...