Scrap price fluctuates within a narrow range in Zhejiang Province recently. Main steel producers’ purchase price of scrap (6-10mm) and scrap (4-6mm) stays at CNY 3350 per tonne and CNY 3300 per tonne.

Steel mills which have replenished stockpile before the Spring Festival are not active in procurement considering the current weak steel market. Some small EAF steel mills, like Zhongqiang Steel, uplifted the purchase price of scrap (6-10mm) CNY 30 to CNY 2900 per tonne by the beginning of this week to improve the stockpile but in vain.

(Source: www.steelhome.cn/en)
China steel information centre and industry database