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Oct.14.2019 1USD=7.0725RMB
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SteelHome Express: Jiangsu Scrap Price Rises Sharply on Increased Demand from Local Mills

//en.steelhome.cn [SteelHome] 2019-10-09 14:42:02

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Scrap price in Jiangsu province rises by 60-100 yuan/t on Wednesday.

Due to the slack arrivals of scrap products to the local mills, steelmakers have to raise the quotation for replenishing scrap inventories in their mills since the previous quotation in this area was lower than the one in surrounding cities.

Meanwhile, with the rise of scrap price, arrivals of scrap in the local mills have improved. In the short run, however, the price may decline as the weak performance of finished steel products in China. Therefore, traders considered that it is hard for scrap price to continue rising in the future.

Link: Market price of Jiangsu Scrap on Oct 9,19

(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837)
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