Steel boosts some China scrap but caution prevails

摘要

Domestic scrap prices have seen slight increases in some regions of China, driven by surging billet and rebar prices over the past few days, market sources told Platts Steel Business Briefing Monday. In southern China's Fujian province, major longs producer Sanbao Iron & Steel hiked its scrap prices by Yuan 50/ mt Monday, taking its buying price for heavy melting scrap (>6mm) to Yuan 2,480/mt on a delivered-to-mill basis including 17% VAT.