China loses appetite for scrap imports on bearish domestic market

Prices for steel scrap imported into China tumbled on Tuesday November 16 after Chinese mills lowered domestic scrap purchase prices further, market sources said.

Continued drop in China's domestic scrap buy prices pressures import appetite.Taiwanese buyers bid lower.China
Spot prices for steel scrap imported into China weakened further on Tuesday amid bearish sentiment in the domestic scrap market that weighed down buying interest for imported material, sources told Fastmarkets.

A major steelmaker in eastern China reduced its domestic scrap buying price by 50 yuan ($7.83) per tonne on Monday. This followed a decrease of 50 yuan per tonne on...

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