Recently, Chinese steel mills have continued purchasing the international scrap to meet the strong demand for the Q4 production.
It's said that Chinese steel mills recently purchase 120 thousand tons of the US HMS 80:20 (1&2) with the prices of US$503~US$505/ton C&F, up by US$5/ton.
At present, the Western American scrap supplier offered the HMS 80:20 (1&2) quoted at US$507/ton C&F to China.
For the prospect, industry sources predicated that the US scrap prices would soar further by US$5~US$10/ton in the short term as the European and Mid-East customer have ended the vacation and returned to purchase