The Price Difference Between Rebar And Steel Scrap Widened In March

SHANGHAI, Apr 11 (SMM) – The price difference between rebar and steel scrap widened 70 yuan/mt MoM to 1,450 yuan/mt as of March 31, 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. Buoyed by better-than-expected end-user consumption and bullish sentiment, rebar prices rose more sharply than steel scrap prices in the first half of March, widening the price difference between the two to 1,510 yuan/mt at one point, which significantly boosted the profit margins of EAF-based steel mills in east China. However, the price difference between the two narrowed rapidly in the second half of the month after steel prices pulled back.