An increase in domestic steel scrap supplies in China and lower mill purchase prices in some regions have dampened import prices, sources told Fastmarkets on Wednesday March 10.
Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $495-500 per tonne on Wednesday, narrowing downward by $5 per tonne from a day earlier.Japanese HS (equivalent to Chinese import grade HRS101) was on offer at $500 per tonne cfr Chinese eastern ports on Wednesday, with bids coming in at $490-495 per tonne cfr China. Key market participants said the workable price was about $495-500 per...