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

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.