September 2017 | Steel Scrap and Metallics Forecaster
Cheap Chinese scrap adds pressure upon international prices: China Market Analysis
Ferrous scrap exports out of China exceeded imports for the first time ever in June this year by almost 17Kt and then in July by 29.5Kt, according to the latest data available.
High availability of low-priced ferrous scrap in China is starting to put pressure on the prices primarily traded in Asia but also farther afield. The countrys exports started to become visible in May this year following deals we heard recorded earlier in the year. In the second half of September, our export price indicator, which adds a 40% export duty to local prices less taxes and standard freight charges for East Asia delivery, fell below the CFR South Korean...
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