Steel Scap Prices are Generally Stable on Feb 20

SHANGHAI, Feb 21 (SMM) - On February 20, quotes of steel scrap in China were generally stable.

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.