During the week ending April 1, prices in the main steel scrap markets in China have indicated slight rises with some sideways movements also seen, while transaction activity in the market has shown improvement. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Some Chinese steelmakers have started to build up their scrap inventories, resulting in slight increases in domestic scrap prices. Meanwhile, finished steel prices are now characterized by greater stability in the Chinese market and this provides a certain degree of support for scrap prices. However, most scrap traders say that the improvement in their sales is not so significant and they believe that the slight rebound seen in scrap prices is unlikely to continue. It is thought that scrap prices in the Chinese domestic market will move on a sideways trend in the coming week.