Ferrous prices hit 11-year low Ferrous scrap prices are at their lowest for 11 years as China increases its exports of steel products, which have forced down prices, according to the latest quarterly report from the Bureau of International Recycling (BIR). William Schmiedel, president of the BIR ferrous division and president of Sims Group Global Trade Corporation, said: "China's finished steel exports in July and August combined at more than 19 million tonnes, but even this figure was eclipsed by the record-breaking 11.3 million tonnes shipped out in September.
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