During the week ending February 17, local steel scrap prices in the Chinese market have indicated an overall stable trend, while transaction activity in the overall market has been quiet. Average scrap prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, small and medium-sized traders have left the market and started their Spring Festival holiday (February 18-24), while a few large traders gave offers but hardly any transactions have been heard. It is expected that scrap prices in the Chinese domestic market will initially move on a stable trend after the holiday, while the subsequent movement of the market will depend on the trend of the finished steel market.