Scrap supply tightens in Northeastern China
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Friday, 10 Feb 2012
Scrap supply is tight in Northeastern China in recent days.
| Price in CNY per tonne | Scrap (6 -10mm ) | Scrap (4 -6mm ) |
| Liaoning Province | 3400-3520 | 3330-3370 |
| Jilin Province | 3300-3350 | 3150-3200 |
Steelmakers’ inventories run low. Currently Lingyuan Steel’s inventory stays at 7,000 tonnes and it has to procure about 1,000 tonnes scrap almost every day to support its daily production.
New Fushun Steel procures scrap at CNY 2980 per tonne. Traders’ stockpiles also stay at a low level as it is hard to re collect scrap. From marketers, scrap price will maintain stable in the short run.
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