The Price Difference Between Rebar And Steel Scrap Shrank In April

SHANGHAI, May 16 (SMM) - The price difference between rebar and steel scrap shrank 130 yuan/mt MoM to 1,320 yuan/mt as of April 30, which was lower than the average price difference of 1,491 yuan/mt in 2022, and was at the lower level of the fluctuation range (1,170, 1,830) of the price difference between the two last year. In April, the price of rebar plummeted, which forced steel mills to cut production, leading to a drop in the price of raw materials. Falling rebar prices dragged down prices across the entire steel industry chain, and its price drop was the sharpest.