Rising Chinese ferrous futures on Monday did little to raise steel scrap demand in China, sources told Fastmarkets on Tuesday August 24.
- Demand for importing steel scrap in China remains muted
- Buying sentiment in Taiwan cools
- South Korean demand for Japan high-grade scrap still high
China
The market for steel scrap imported into China remained quiet on Tuesday despite gains in the steel futures markets amid the persistent mismatch between bids and offers for material.
The most-traded rebar and hot-rolled coil futures contracts on the Shanghai Futures Exchange ended their day trading sessions 1.60% and 1.63% higher respectively on Tuesday. The most-traded iron ore futures contracts on the Dalian Commodity Exchange (DCE) closed 5.70% higher.
Source By Metalbulletin