Central China's scrap prices stable, deliveries poor

摘要

China's domestic prices for heavy melting scrap (>6mm) have remained stable at Yuan 3,050-3,130/mt (480-492 dollars/mt) with VAT in the country's central regions, as major mills generally retained buying prices in order to maintain delivery levels. In Hubei province, leading steelmaker Wuhan Iron & Steel (Wugang) cut its prices for some grades by Yuan 50/mt on Saturday but kept its buying price for HMS (>6mm) unchanged at Yuan 3,110/mt (489 dollars/mt) on a delivered-to-mill basis including 17% VAT.