During the week ending November 4, prices in the main local steel
scrap markets in
China have generally remained on a stable trend, though with some slight upticks seen in eastern
China, while overall transaction activity in the domestic market has remained poor.
Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, domestic steel producer Shagang Group increased its purchase prices for
scrap, providing support for
scrap prices in eastern
China. In other regions of
China,
scrap transaction prices have remained stable. Currently, steelmakers are concluding purchases based on their own
scrap inventory levels. As for the coming week, it is expected that
scrap prices in eastern
China will move on a slight uptrend, but will soften in in northern
China as the cold weather affects activity.