Scrap price in Shandong province increases on Friday, as prevailing steel mills this area have raised purchase price for scrap products by 40-60 yuan/t. For 6-10mm Heavy Scrap, it comes to 2760-2790 yuan/t (tax included).

Daily scrap arrivals have come to above 10,000 tons to mills, with inventories of 10 days. Many considered that it is hard to see the continuous rise of scrap price in the near future.

Therefore, SteelHome predicts that the continuous rise in scrap price would be limited as mills were inactive in scrap procurements recently.

Link: Market price of Shandong Scrap