China’s domestic steel scrap prices appeared resilient over January 29-February 5 as Mysteel’s national steel scrap pricing index nudged down by Yuan 6.9/tonne ($1.1/t) on week to Yuan 3,060.5/t on delivery and including the 13% VAT as of February 5, indicating little concern on the scarcity in spot transactions with the approach of the Chinese New Year (CNY) holiday, Mysteel Global learned the market sources.
Source : https://www.mysteel.net/article