During the given week, due to significant decreases in finished steel prices, Chinese steelmakers have reduced their scrap purchase volumes, resulting in sharp declines in scrap prices. Meanwhile, traders have not been active in selling scrap and this has also negatively impacted transaction volumes. New laws for environmental protection are due to take effect as of January 1, 2015, and are expected to have a positive impact on prices of steelmaking raw materials and have already caused increases in futures prices of coke and iron ore. It is thought that scrap prices in the Chinese domestic market will likely move on a stable trend in the coming week.