During the week ending August 21, the Chinese steel
scrap market has continued to follow a declining trend amid slow activity. Local steel
scrap prices in
China can be viewed in the SteelOrbis price reports section.
Although some steel mills are purchasing
scrap to fill holes in their inventories or are purchasing in line with their needs, most large steel producers are not active in concluding
scrap purchases for now. In addition, traders are also cautious about making new
scrap purchases. Many observers consider the current time to be the most difficult period for the overall steel market since the 2008 economic crisis. It is expected that the Chinese
scrap market will continue to follow a soft trend in the coming week.