Steel Scrap Prices to Rise Along with Steel Prices in March, But at a Slower Pace_SMM

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Home / Metal News / Scraps & Secondary / Steel Scrap Prices to Rise Along with Steel Prices in March, But at a Slower Pace

Steel Scrap Prices to Rise Along with Steel Prices in March, But at a Slower Pace

Mar 10, 2023 11:30 icon

CST

Source:SMM

SHANGHAI, Mar 10 (SMM) -The domestic steel scrap supply has recovered noticeably since February, with inventories across major recycling centres increasing to a six-month high, thus the upward momentum of steel scrap prices has weakened significantly. Since the steel market is gradually entering the peak season, steel prices are likely to rise in the short term, which should somehow bolster steel scrap prices as well.

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