Steel Scrap Prices Fluctuate Wildly last Week

SHANGHAI, Feb 13 (SMM)－Last week, prices of steel scrap fluctuated wildly, and the purchase price from domestic steel mills rose 0-160 yuan/mt. 

On the demand side, the steel scrap stored by steel mills before the CNY holiday was lower than in the same period in previous years, which boosted the restocking demand from steel mills post CNY. On the supply side, the production of steel scrap recycling and processing enterprises has not yet fully recovered, and these companies were less willing to ship, which forced the steel mills to raise their purchase prices.