As prices of rolled steel, semi-finished steel, iron ore and coke have declined in the Chinese market, there has been less support for domestic steel scrap prices. Traders have started to sell off scrap materials from their stocks in a panic, thereby pushing down scrap prices. However, reductions of capacity utilization rates of in China have resulted in lower consumption of scrap. It is expected that scrap prices in China will continue to slip down in the coming week.