Scrap price in Hebei province remains stable with slight rises on Wednesday.

Then 6-10mm HMS2 in Tangshan keeps at 2740 yuan/t. In addition, in Handan, the price increases by 50 yuan/t to 2750 yuan/t.

Meanwhile, the arrivals of scrap products to steel mills have increased from the pre-holiday one, but the inventories still keep at a low level in the mills. Therefore, some steelmakers have raised the quotation of scrap in order to replenish inventories of scrap products in their mills.

SteelHome predicts that it is hard to see the continuous rise in scrap price in the near term since prices of finished steel products showed a weak performance on the overall market and the current scrap price has already hit the high level.