CHINA STEEL SCRAP: First scrap shipment since easing of import ban clears customs in Shandong province

The first shipment of imported scrap since China lifted restrictions - a cargo of 3,000 tonnes booked by Shandong Iron & Steel - cleared customs checks at Lanshan port in Rizhao, Shandong, on June 15, sources told Fastmarkets this week.

China officially eased restrictions on scrap imports in January 2021.
Buyers have continued to show only limited interest in booking imported scrap cargoes due to the large spread between buyer ideas on what constitutes a workable price and the offers from Japanese sellers.
No fresh offers have been heard so far on Thursday June 24, with the latest coming in at $580 per tonne cfr China earlier this week, sources said.

Bids were heard at $530-540 per tonne cfr northern China - equivalent to $520-530 per...

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