During the given week, affected by slight declines in iron ore and finished steel prices, transaction prices of scrap in some regions for small volume order have indicated a slight downtrend, while purchasing prices of scrap in major trading regions have continued a stable trend. Meanwhile, transaction activity has been negatively impacted by the typhoon in southern China.
Currently, steelmakers have slowed down their purchasing activities due to bearish sentiment prevails in the Chinese scrap market. It is expected that scrap prices in the Chinese domestic market will slightly downtrend in the coming week.