Steel Scrap Market Report November 2012

Domestic steel scrap price was pulled back in November and followed a downtrend in general. Sales prices ran at RMB2,780-2,800/t VAT included delivered for fine burden fines 6mm min from mainstream steel scrap buyers, and at RMB2,400-2,420/t VAT excluded delivered for burden fines from mid-small-sized mills. Burden fines prices held at RMB2,410-2,430/t in Ningbo, Zhejiang, and at RMB2,430-2,450/t for 6mm min in Fujian, both VAT excluded delivered by cash payment. MMS prices hold at RMB2,400-2,420/t in Anhui; HMS 6mm min prices at RMB2,400-2,420/t in Shandong, HMS 4-6mm min prices at RMB2,750-2,770/t in Jiangxi; all on a VAT excluded delivered by cash payment basis. HMSⅠprices ran at RMB2,380-2,400/t in Hunan; HMS 6mm min at RMB2,440-2,480/t in Hubei, both VAT excluded delivered. Mid-to-small-sized companies in Tangshan, Hebei procured HMS at RMB2,400-2,420/t VAT excluded delivered by cash payment. HMS 6mm min ran at RMB2,720-2,740/t VAT included delivered in Tianjin. Major mills bought HMS at RMB2,710-2730/t VAT included delivered in Chaoyang, Liaoning.Asian Metal Copyright Sales prices ran at RMB2,780-2,800t VAT included delivered for fine burden fines 6mm min from mainstream steel scrap buyers, and at RMB2,400-2,420t VAT excluded delivered for burden fines from mid-small-sized mills.Asian Metal Copyright