DAILY: East China Scrap Price Broadly Stable, Eye on Peak Steel Order Season
Prices of scrap remained broadly stable in East China on Thursday, but up by 30 yuan/t in some areas. 6-10mm HMS stays at 2730-2780 yuan/t in Jiangsu; at 2760-2810 yuan/t in Shandong; at 2730-2780 yuan/t in Fujian; up 30 yuan/t to 2730-2780 yuan/t in Anhui.
Currently, traders are optimistic about the further market developments as the rebar futures price and semis price rose lately. Meanwhile, September is the peak sales period for steel products in China.
According to SteelHome survey, the volume of scrap arrivals at some Chinese steel mills decreased from the week before.
SteelHome considers that prices of scrap may edge up amid fluctuations in the short run.
Link: Market price of Jiangsu Scrap on Sep 3,20
Link: Market price of Anhui Scrap on Sep 3,20
Link: Market price of Fujian Scrap on Sep 3,20
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