DAILY: East China's Scrap Price Down, with Stable Outlook

Prices of scrap dropped in East China on Thursday. 6-10mm HMS dropped by 50 yuan/t to 2670-2720 yuan/t in Jiangsu; down by 40 yuan/t to 2650-2700 yuan/t in Shandong; down by 30 yuan/t to 2700-2750 yuan/t in Fujian; at 2640-2690 yuan/t in Anhui.

According to SteelHome survey, mills have lowered scrap procurement prices amid increased in-plant arrivals and slack steel sales lately.

SteelHome considers that China’s scrap price may keep stable, being unlikely to further decrease in the short run.

Link: Market price of Shandong Scrap on Sep 24,20

Link: Market price of Jiangsu Scrap on Sep 24,20

Link: Market price of Fujian Scrap on Sep 24,20

Link: Market price of Anhui Scrap on Sep 24,20