Several Chinese steelmakers have lifted domestic scrap buying prices despite slightly weakened market sentiment in a bid to increase deliveries, sources said Wednesday. In central China's Hubei province, leading steelmaker Wuhan Iron & Steel (Wugang) raised its scrap prices Yuan 70t on October 31. This took its buying price for heavy melting scrap over 6mm thick to Yuan 2,740/mt ($439/t) on a delivered-to-mill basis including 17% VAT.
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