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