Lingyuan Steel raised scrap purchasing price by 50 per tonne to 100 per tonne on October 25, 2011, after that, procurement price of scrap (>6mm) hoveres at CNY 3,670 per tonne, that of scrap (4-6mm) perches at 3,470 per tonne, and that of scrap (3-4mm) hovers at CNY 3,420 per tonne, in addition, purchasing price of casting iron is represented at CNY 3,180 per tonne.

The above price adjustment set to come into force on October 25 2011 and covers 17% VAT and with commodity delivered to buyers.

(Source: www.steelhome.cn/en)
China steel information centre and industry database