Domestic Steel Scrap Prices Plummeted In April

Published: May 15, 2023 10:11
Source: SMM
SHANGHAI, May 15 (SMM) - The domestic steel scrap prices plummeted in April.

SHANGHAI, May 15 (SMM) - The domestic steel scrap prices plummeted in April. As of April 30, the steel scrap prices in Zhangjiagang stood at 2,510 yuan/mt, down 300 yuan/mt from the end of March.

The slump in domestic steel scrap prices was mainly due to three factors: 1.The performance of steel demand was not as good as expected. After experiencing a mild recovery in March, orders from downstream industries weakened in April. 2.Steel supply peaked. In early-to-mid April, the domestic steel supply reached its peak. Abundant supply and weak consumption led to cautious market sentiment. 3.The fall in steel prices drove steel mills to reduce production, which weighed on raw material prices. Since mid-April, more steel mills have reduced production or carried out maintenance, hurting the demand for raw materials and resulting in a rapid decline in the prices of coal, steel scrap and iron ore. This round of sharp drop in steel scrap prices led to a significant decline in steel scrap supply and demand. To tackle production restriction policies, poor profits and sales, most steel mills slashed the proportion of steel scrap in steel production. On the supply side, steel scrap enterprises cut recycling and processing volumes due to losses.









Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[SMM Steel] 7.24 SMM Global Steel Daily Report
Jul 24, 2026 19:00
[SMM Steel] 7.24 SMM Global Steel Daily Report
Read More
[SMM Steel] 7.24 SMM Global Steel Daily Report
[SMM Steel] 7.24 SMM Global Steel Daily Report
[Brazil] Major-customer bankruptcy triggers spot liquidation; Brazilian HDG prices under pressure This week domestic hot-dip galvanized (HDG) steel prices in Brazil came under downward pressure. The decline was primarily driven by a key client of a major local mill filing for bankruptcy liquidation, creating receivables risks that prompted the steelmaker to liquidate inventory at discounted spot prices to accelerate cash recovery. However, backed by robust automotive demand, quotes from other mainstream mills held firm. Hot-rolled coil ex-works prices stabilized at 750-760USD/tonne EXW, as high interest rates and tight credit conditions continued to suppress downstream purchasing sentiment. In the slab market, mills prioritized internal consumption for September shipments, keeping export offers steady at 580-585 USD/tonne FOB.
Jul 24, 2026 19:00
【SMM Analysis】Sheet and plate prices continue to consolidate near the bottom
Jul 24, 2026 18:27
【SMM Analysis】Sheet and plate prices continue to consolidate near the bottom
Read More
【SMM Analysis】Sheet and plate prices continue to consolidate near the bottom
【SMM Analysis】Sheet and plate prices continue to consolidate near the bottom
Jul 24, 2026 18:27
Vale Posts Strongest Second-Quarter Iron Ore Output Since 2018
Jul 24, 2026 18:25
Vale Posts Strongest Second-Quarter Iron Ore Output Since 2018
Read More
Vale Posts Strongest Second-Quarter Iron Ore Output Since 2018
Vale Posts Strongest Second-Quarter Iron Ore Output Since 2018
Brazilian miner Vale reported a total production of 84.3 million metric tons for the April-June quarter of 2026, marking its largest second-quarter iron ore output since 2018. Looking ahead, the company forecasts its total iron ore output to increase by up to 3% in 2026, projecting a range between 335 million and 345 million metric tons, while maintaining a long-term strategic target of 360 million tons by 2030.
Jul 24, 2026 18:25