With Chinese National October holidays just around the corner next week in China, there was very little to report in terms of new sales from state owners or otherwise.
Such has been the decline in local levels recently that many owners are choosing to bypass China altogether (the gap is now almost USD 200/LDT between sub continent markets).
Scrap yards in Indonesia, Vietnam and the Philippines are becoming more viable on price than China, in concerning developments for the industry.
Source: steel guru. 23 September 2014