Scrap price in Jiangsu province drops on Friday.
The prevailing purchase price of scrap drops by 20-50 yuan/t. Then, the 6-10mm HMS2 comes to around 2670-2720 yuan/t.
Though the scrap supply is tight on the overall market, the price still declines as the downstream finished steel product market has suffered heavy losses in recent days. In addition, from steel futures market prices of steel products have not softened.
Therefore, SteelHome predicts that the scrap price may fluctuate weakly in the near term.
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837) |