FERROUS SCRAP PRICES FALL AGAIN AND GOES TO US$ 209; DECREASE OF 20% SINCE THE BEGINNING OF MAY

On Tuesday ferrous scrap prices in eastern China (heavy melting scrap 6mm and above thick, including 17% value-added tax, delivered to Zhangjiagang, Jiangsu province) continued to slide hitting $209 a tonne – down nearly 20% since the beginning of May according to S&P Global Platts data.

The fall in Taiwanese import scrap has been even more dramatic. A 13% drop on Tuesday to $200 brought the price decline over the past month to 32%.