Tight Steel Scrap Supply Likely To Limit Downside Room Of Steel Prices

"Interpreting Global Nickel and Indonesia Stainless Steel Industries: Supply-Demand Dynamics and Outlook"Stainless Steel Industries**

During the survey period (April 30-May 6), the weekly output of rebar decreased and the output of wire rod increased at steel mills in central China this week. The total inventory of steel mills increased slightly, but the inventory trends of rebar and wire rod were differentiated. It is expected that the output of steel mills in central China will increase in the next period.

Last week, on April 25th, the UK government made a significant announcement regarding the Deposit Return Scheme (DRS) for drinks containers.

Overnight, the most-traded SHFE nickel contract opened at 130,850 yuan/mt, and closed at 132,590 yuan/mt, up 990 yuan/mt.

DMC prices in the online shopping mall of Shandong-based plants opened at 15,500 yuan/mt this week, down 300 yuan/mt WoW. Offers from leading DMC plants were 15,200 yuan/mt this week, down 1,300 yuan/mt, while those from other plants were 15,300 yuan/mt. Mainstream transaction prices dipped by 400 yuan/mt WoW. 

Tom Giddings, executive director of Alupro, looks to the year ahead and explains what the aluminium packaging recycling industry wants to see in 2024.

According to SMM statistics, last week, aluminum ingot outflows from warehouses were 85,500 mt, down 18,900 mt.

This resource update can be reflected in the company's valuation and potentially change the coming-up acquisition landscape.

As of November 7, the operating rates of 34 EF steel mills that mainly produced construction steel were up 4.35 percentage points WoW at 46.38% as profits recovered significantly amid strong finished steel prices.

For the week ending November 2, there a decline in lithium hydroxide prices amid slack supply and demand.