Relatively Healthy Fundamentals To Allow Steel Scrap Prices To Drop Less Sharply Than Rebar In April

SHANGHAI, Apr 11 (SMM) – Growing supply and weak demand from the real estate sector could drag down rebar prices slightly in April. Most steel mills said they will try to bargain down steel scrap purchase prices. Relatively healthy fundamentals of steel scrap may allow its prices to drop less sharply than that of rebar. The price difference between rebar and steel scrap is estimated to shrink considerably from March to 1,250-1,350 yuan/mt in April.