Scrap price in East China’s Jiangsu province has been stable since the month began.

Large mills’ purchase price mostly stay at CNY 3750 per tonne to CNY 3780 per tonne for 6 -10 mm scrap and CNY 3830 per tonne to CNY 3880 tonne for premium scrap (6 -10 mm ), versus CNY 4050 per tonne offered by small furnaces.

Although big steel makers do not cut purchase prices despite the slightly weak steel market over the past two weeks, which is due to their relative-lower prices and a bit intense supply, SteelHome expect a small drop in scrap purchase price.

Some steel mills, like Wuxi Xuefeng, are to stop part electric furnaces in the second half of the month in a bid to alleviate cost pressure.

(Source: www.steelhome.cn)

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