During the week ending April 15, prices in the main steel scrap markets in China have continued their upward movement, while transaction activity in the market has also seen improvement and is at good levels. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
While finished steel prices in China have indicated upticks during the past week, local scrap traders have raised their offer prices. Since availability shortages prevail in the domestic scrap market, steelmakers have had to increase their scrap purchase prices. At the same time, many scrap sellers are unwilling to sell as they are waiting for higher prices. It is expected that scrap prices in the Chinese domestic market will maintain their upward trend in the coming week.