Northeastern China's scrap prices have witnessed an overall decline over the past two days, following the downward trend elsewhere in the country. The domestic scrap market is unlikely to see improvement in the short term, sources predicted. In Liaoning province, Lingyuan Iron & Steel - a major longs and flats producer- trimmed its scrap prices by Yuan 20/ mt again on May 25, taking its buying price for heavy melting scrap (>6 mm) to Yuan 3,120/mt (492 dollars) with 17% VAT.
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