Poor activity in local Chinese scrap market

During the week ending October 28, prices in the main local steel scrap markets in China have remained on a stable trend in southern China, while they have indicated a downtrend in northern China, with overall transaction activity in the domestic market being at poor levels. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
 
Due to the downward movement seen in semi-finished steel prices in northern China, scrap prices have also indicated a downtrend in this region in the past week. Elsewhere, scrap prices in the Chinese domestic market have mostly remained stable, with steelmakers and traders generally maintaining a wait-and-see stance as regards the future prospects for the market. As for the coming week, it is expected that scrap prices in northern China will move down further, while prices in southern China will likely remain on a stable trend.