Prices in the Chinese ferrous scrap import market remained stable in the week to Wednesday March 31, despite higher offers from sellers.
Mills in east China were heard bidding at $440-450 per tonne cfr for heavy scrap (HS), while those in the northeast were bidding at $460-470 per tonne cfr. And those not urgently looking for material were bidding at $420 per tonne cfr China, although sources said this level of bid was unlikely to result in any transactions."Domestic prices are still lower, so its not realistic to buy import scrap at much higher prices," a buyer source at...