Scrap price in Hebei province softens on Tuesday.
Then 6-10mm HMS2 in Tangshan keeps at 2750 yuan/t.
Meanwhile, steel mills have raised the scrap inventories by 1-2 days to around 7 days. With the sufficient inventories, many steel mills are inactive in the further procurement. In addition, some whose inventories are at a low level planned to replenish scrap inventories before the upcoming National Day of China, but the steelmaking process will be suspended in late September. Therefore, it will be hard to see a continuous rise in scrap price in the near term.
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837) |