Falling scrap prices in Asia have encouraged buyers to stay away from purchasing, market sources told Fastmarkets on Thursday March 11.
There was limited interest from buyers amid the falling prices, especially with complementary iron ore prices plunging sharply on March 9 and producers in the key steelmaking hub of Tangshan cutting steel production further this week.Offers were at $510 per tonne cfr China for bulk north America-origin plate & structural...