Steel Scrap Prices To Rebound Initially Before Falling Back In May

SHANGHAI, May 15 (SMM) - Under the influence of panic sentiment, prices in the steel industry chain fell sharply in April. Steel scrap prices may rebound in the first half of May, but are likely to fall back in the second half of the month as end consumption remains sluggish.

Review: The domestic steel scrap prices plummeted in April. As of April 30, the steel scrap prices in Zhangjiagang stood at 2,510 yuan/mt, down 300 yuan/mt from the end of March.