Scrap
price in Hebei province softens on Tuesday.
Then
6-10mm HMS2 in Tangshan softens at 2670 yuan/t.
In
Shagang, it has lowered its scrap purchase price by 50 yuan/t, following
by other steel mills in East China.
Meanwhile,
sellers are inactive in shipping scrap products, since the continuous
price falling in the previous days. Therefore for steelmakers, volumes of
scrap arrived to plants declined, which caused the insufficient scarp
supply in steelmaking. Though the tight scarp supply on the overall
market, it is hard to see a rise in scrap purchase price recently because
of the increasing cost pressures in steelmaking for steelmakers.
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(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837) |