During the week ending July 8, prices in the main local steel scrap markets in China have remained on a stable trend, while transaction activity is now at decent levels, having improved compared to the previous week. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, the tightness of liquidity has eased in the Chinese domestic scrap market. Meanwhile, scrap supplies arriving at steelmakers have been at low levels and so steelmakers will need to buy scrap in the coming period. However, steel producers and scrap suppliers are content to keep market prices stable at current levels. A lack of clarity still surrounds the likely future trends of the finished steel and scrap markets in China. It is thought that scrap prices in the Chinese domestic market will probably remain on a stable trend in the coming week, though some slight upticks could also be seen.