Ferrous scrap prices in eastern China have held steady for the second straight week, as steel mills in the region were stepping back to see what would happen next.
S&P Global Platts assessed heavy melting scrap 6 mm and above thick Friday at Yuan 1,390/mt ($209/mt), including 17% value added tax (VAT), delivered to Zhangjiagang, Jiangsu province, unchanged from a week earlier.
Jiangsu Shagang Group, the largest scrap consumer in China, continued to hold its buying price of heavy melting scrap 6 mm and above thick unchanged over the past week.
Shagang's buying price was at Yuan 1,390/mt, including 17% VAT, delivered to Zhangjiagang, Jiangsu province.
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