During the week ending July 15, prices in the main local steel scrap markets in China have followed a stable trend, while transaction activity has been quieter than in the previous week. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, there have not been any major positive or negative developments in the Chinese domestic scrap market and so transaction prices have remained unchanged from the previous week. Supplies in the scrap market have been on the short side, limiting the volumes arriving at steelmakers. However, confidence in the finished steel market has been recovering gradually, restricting the room for downward movement of scrap prices. It is thought that domestic scrap prices are unlikely to indicate big changes in the coming week, especially as the domestic finished steel markets are expected to remain relatively stable.