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China steel scrap price nears 68-m high on strong demand

 

Date:[11/1/2018]    Source:Shandong Hai Steel Co.,Ltd

 

China steel scrap price nears 68-m high on strong demand

 Domestic steel scrap prices in China witnessed a remarkable rise of Yuan 30/tonne ($4.3/t) on day on Thursday after remaining unchanged for three straight days this week. Market observers said that the rise in demand for steel scrap had largely outpaced market supply.
 Transaction prices of 6-8mm common-grade carbon steel scrap in Zhangjiagang city in East China’s Jiangsu province, the country’s core scrap consumption base, rose to Yuan 2,530/t excluding 16% VAT as of November 1, reaching a near 68-month high, according to Mysteel’s latest data. 
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