China steel scrap prices up further, stocks down
Issued at 2021-12-20
China's domestic steel scrap price index under Mysteel's assessment rose for a third week over December 3-10, gaining another Yuan 64.1/tonne ($10/t) on delivery and including the 13% VAT. Propelling the price up were the continuing firm demand from domestic steelmakers and the lower scrap availability.
The slight recovery in spot steel prices recently and higher steel margins among some domestic steel mills have led these mills to maintain a steady appetite for steel scrap. As of December 10, China's HRB400E 20mm dia rebar price had grown Yuan 29/t on week to Yuan 4,827/t.
Source: My Steel Globar
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