heroeshuntmegaways| Domestic steel mills scrap prices lowered: 10-50 yuan/ton decline stabilized the market

News summary

Finance and Economics May 15heroeshuntmegaways, some domestic steel mills have lowered the purchase price of scrap steel by 10 - 50 yuan/ton. Market supply is tight, base inventories are low, willingness to ship is not high, and traders have a strong wait-and-see attitude. Futures spiral affects steel price fluctuations, and the overall market price remains weak and stable.

Newsletter text

[On May 15, the price of scrap steel in domestic steel mills was slightly lowered]

Today, the price of mining waste in some domestic steel mills has been lowered, with a drop of 10 - 50 yuan/ton. The overall market price showed a weak and stable trend. Despite the general market sentiment, steel mills raised the purchase price of scrap steel in the past two days, coupled with the decline in futures, and the overall arrival situation has improved. In terms of the market, the slight decline in market prices and the tight supply of scrap steel in the market have led to a low level of inventories in the base. The willingness to ship is not high, and the market has a strong wait-and-see attitude.

Overall, although the market price of scrap steel has dropped slightly, the overall trend remains weak and stable. In addition, the supply and demand relationship and price changes between steel mills and the market will continue to affect the future trend of the scrap steel market.