Weak operation of the domestic scrap steel market (October 16th to October 22nd)
Last week, domestic scrap steel prices rose and fell each other, and merchants became more afraid of falling and actively shipped goods. There were not many resources left on the site. The arrival of steel mills increased compared with the previous week. Some key steel companies adjusted their purchase prices according to their own conditions. Compared with the previous week, the average purchase price of scrap for key steel enterprises has increased by RMB 4/ton for heavy scrap, decreased by RMB 19/ton for medium-sized scrap, and increased by RMB 4/ton for aggregate scrap. Recently, the policy of restricting production and electricity has become stricter, the output and demand for finished products have weakened, and the profits of steel mills have been compressed. Affected by this, scrap prices have declined slightly in some areas. At present, most steel mills have delivered scrap steel to meet daily consumption, and their inventories are mostly maintained at a medium level. At the s...