It is reported overall scrap steel prices in Jiangsu province perform to slump and mills have regulated down the prices in succession by CNY 50 per tonne since last week.

Currently, purchasing price for scarp 6mm to 10mm is at CNY 3350 per tonne to CNY-3400 per tonne and for prime scrap the price is CNY 3430 per tonne to CNY 3450 per tonne.

Besides, majority mills hold pessimistic attitudes towards later market and although part of them have boosted up the purchasing prices in mid December, supplies still fail to mount up.

For the moment, major mills mainly keep low inventory, and traders' recollection cost of prime scrap are relatively high at CNY 3000 per tonne to CNY 3050 per tonne without invoice, therefore, scrap prices in Jiangsu market will not dive sharply.

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