This Week, The Price Of Scrap in China Will Change

Last week, scrap prices in China slightly decreased. The operating rate somewhat increased as a result of some electric furnace mills coming back online after maintenance. The capacity utilization rate of these mills has reduced, meanwhile, as a result of some areas' staggered electricity consumption shortening some electric furnace mills' output durations.

Due to China's continued strong steel production and little scrap stockpile, scrap prices are supported. Nevertheless, because there is less demand for finished goods during the off-season, the inventory is growing. This week, it was anticipated that the scrap price would move within a narrow range.