CHINA STEEL SCRAP: Prices rebound amid strong domestic demand

Prices for steel scrap imported into China edged up on Thursday June 3 amid improving sentiment in the domestic market, sources said.

Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China - which takes into account prices at ports in eastern China - was $510-530 per tonne on Thursday, up by $10-15 from Wednesday.
Many Chinese mills raised their purchase prices for domestic scrap on Thursday by amounts ranging from $30-100, with support from good mill margins, sources said.
The highest purchasing price was in the steelmaking hub Tangshan, in Hebei province, at around 3460 yuan ($541) per tonne excluding value-added tax (VAT).

A key Japanese trading source said a maximum price for heavy scrap (HS) of $540...

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