Prices of steel scrap rose in East China on Monday. 6-10mm HMS increased by 50 yuan/t to 2720-2770 yuan/t in Jiangsu; up 30 yuan/t to 2700-2750 yuan/t in Shandong; 2750-2800 yuan/t in Fujian, up 30 yuan/t to 2690-2740 yuan/t in Anhui.

During the weekend, two leading steelmakers in East China raised scrap procurement price, which was followed by surrounding steel mills in this area. With dropped futures prices of rebar and iron ore, however, it is unlikely to observe further rises on East China’s steel scrap prices.

Currently, most market participants focus on China’s steel price.

Link: Market price of Jiangsu Scrap on Oct 26,20

Link: Market price of Shandong Scrap on Oct 26,20

Link: Market price of Anhui Scrap on Oct 26,20

Link: Market price of Fujian Scrap on Oct 26,20