Metal Industry News Newsgroup

Date Submitted :	December 02, 2009
Topic / Subject :	Scrap Prices Jump up in China
Message :	Scrap price in Northeast China jumps up as a result of difficult scrap recollection and steel mills' active purchase. Recently, steel mills join the wave to raise procurement price of scrap. Lingyuan Steel has lifted the offer by CNY 100 to CNY 2,710-2,750 per tone. The high price attracts suppliers of other regions, for example, Changchun ’s traders deliver 1,700-2,000 tonnes a day. Acheng Steel raises the offer by CNY 50 to CNY 2,550 per tonne. Beiman Special Steel has some imported resources and basically keep the offer of domestic scrap unchanged at CNY 2,550-2,600 per tonne. One blast furnace ( 1030m3 ) of the mill will start up at the end of December.

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