Jiangsu express: scrap market price remains stable on December 1. Currently mid and large steel mills purchase scrap (6-10mm) and prime scrap at CNY 3300-3350 per tonne and CNY 3400-3450 per tonne. Small steel mills with electric arc furnace purchase prime scrap at CNY 3550-3580 per tonne.

Steel price regains a small increment in recent days as the capital tense situation has been alleviated somewhat, small steel mills with electric furnace are active in replenishing stockpile.

Some leading steel enterprises in Jiangsu Province maintained their purchase price at a low level in previous time, and they plan to improve it by the first ten days of December.

Jiangsu Province based Danyang FeiDa Heavy Industry Co Ltd will start an EAF which will push up the scrap demand. The scrap price in Jiangsu Province is estimated to stabilize with uptrend in the later market.

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