Eastern China’s ferrous scrap price fall pauses

摘要

Ferrous scrap prices in eastern China have now stabilized at record low levels after five consecutive weeks of decline. Last week, it has suffered the largest weekly drop of Yuan 100/mt since midSeptember, 2014 according to Platts assessment. Steel mills and traders surveyed by Platts said they expect scrap price in the region to be stable in the near future, although there is a possibility of a slight further decline in the longer term due to weak rebar market.