Scrap price cuts continue among e. Chinese mills

摘要

The recent scrap price reduction has been adopted by more steelmakers in eastern China's Jiangsu prov-ince over the past two days with sentiment weakening amid softening rebar spot and futures prices. On Tuesday, Zenith Steel Co - a major construction steelmaker in Jiangsu's Changzhou city - reduced its buying price for heavy melting scrap (over 6mm thick) to Yuan 2,990/mt (472 dollars/mt) from Yuan 3,020/mt with 17% VAT.