During the week ending April 3, steel scrap prices in the Chinese domestic market have for the most part indicated a stable trend, though slight declines have been witnessed in the provinces of Henan and Shandong. Meanwhile, transaction activity has remained quiet. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Over the past week, steelmakers have cut their scrap purchase volumes to relatively low levels, resulting in rising scrap inventory on the traders' side. Since steel and iron ore prices have so far not seen any significant rebound, it is thought that scrap prices in the Chinese domestic market will likely indicate a soft trend in the coming week.