Chinese manholes cover-up
“The replacement work will be finished by the end of this year,” said Zhu Jiong, a spokesman at the municipal water resources bureau. Benchmark South Korean scrap prices rose to a record $340 a metric ton in the first quarter as the economy in China, the biggest steel scrap importer, grew 9.7%.
Prices of copper, steel and other metals have risen as much as four fifths in the past year, prompting China’s government to clamp down on investment in industries such as steelmaking to slow demand.