Steel Scrap Prices Stop Falling and Stabilise

SHANGHAI, Feb 20 (SMM) - On February 16, the scrap steel scrap prices stopped falling and stabilised. In Hebei, Guangdong and Fujian, the steel scrap prices increased 20-80 yuanmt. In Yunnan and other places, the prices decreased 10-50 yuan/mt. It is certainty that the supply and demand relationship is improving.

On the demand side, the pre-holiday stockpiles of steel mills were relatively low, resulting in a strong post-holiday demand. On the supply side, steel scrap recycling and processing enterprises have not yet fully recovered, and were reluctance to sell.