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China's domestic scrap steel prices rebounded

2024-09-23 16:25:32

Last week, domestic scrap steel prices stopped falling and rebounded. Market circulation resources were tight, merchants were reluctant to sell, and steel companies mostly purchased on demand to maintain low inventory. Compared with the previous week, the average purchase price of scrap steel by key steel companies was 9 yuan/ton for heavy scrap steel, 4 yuan/ton for medium scrap steel, and 8 yuan/ton for general scrap steel.

Recently, the steel market has been strong and volatile. Construction steel has entered the traditional peak season for consumption, but the recovery in demand is relatively limited. The support of scrap steel is insufficient, and the price has risen slightly. With the rebound of scrap steel prices, market confidence has been boosted, the pace of merchants' shipments has slowed down, and the arrival of steel companies is generally good. There is still demand for inventory replenishment before the National Day holiday. The eighth round of coke price cuts has been implemented. Compared with molten iron, scrap steel has a poor cost-effectiveness, and steel companies are not profitable. The consumption of scrap steel has not increased significantly, and it is difficult for prices to continue to rise. Overall, it is expected that the domestic scrap steel market will run narrowly and strongly in the short term.

The scrap steel price in East China has stopped falling and stabilized, the arrival of steel companies is generally good, and the consumption of scrap steel has decreased slightly. The purchase price of heavy scrap steel of Nangang is 2370 yuan/ton, down by 40 yuan/ton; the purchase price of heavy scrap steel of Shagang is 2420 yuan/ton, down by 30 yuan/ton; the purchase price of heavy scrap steel of Xingcheng Special Steel is 2460 yuan/ton, down by 50 yuan/ton; the purchase price of heavy scrap steel of Magang is 2170 yuan/ton, down by 30 yuan/ton; the purchase price of heavy scrap steel of Tongling Fuxin is 2510 yuan/ton, down by 100 yuan/ton; the bidding price of steel chip briquette of Shandong Steel Laigang is 2380 yuan/ton; the purchase base price of heavy scrap steel of Ningbo Steel in September is 2237 yuan/ton.
The scrap steel market in Central China is running weakly and steadily, the receiving volume of the base has decreased, the merchants are not willing to ship, and the steel enterprises have slightly raised the purchase price. Angang's purchase price for heavy scrap steel is 2,500 yuan/ton; Wugang's purchase price for heavy scrap steel is 2,530 yuan/ton, down 70 yuan/ton; Hunan Iron and Steel Henggang's ex-factory price for heavy scrap steel is 1,960 yuan/ton, excluding tax.

Scrap steel prices in South China have continued to rise, market confidence has been boosted, the output of scrap steel at construction sites has increased, and steel companies are purchasing on schedule. Sangang Minguang's purchase price for heavy scrap steel is 2,510 yuan/ton; Shaoguan's ex-factory price for heavy second-class scrap steel is 2,280 yuan/ton, up 30 yuan/ton; Angang Lianzhong's purchase price for first-grade carbon steel scrap (crushed material) is 2,580 yuan/ton, up 170 yuan/ton.

The scrap steel market in the southwest region is temporarily stable, finished product prices have rebounded, and the arrival of scrap steel at steel companies is general. There may be a demand for inventory replenishment before the National Day holiday. Chongqing Iron and Steel's heavy scrap steel price excluding tax is 2,230 yuan/ton; Kun Steel's purchase price for briquette scrap steel is 2,330 yuan/ton.
The scrap steel market in Northwest China is running steadily, and market confidence has recovered, but the sales of finished products of steel enterprises are not good, the inventory is at a high level, and the room for scrap steel prices to rise is limited. The purchase price of heavy scrap steel of Xining Special Steel is 2,320 yuan/ton; the purchase price of medium scrap steel of Jiugang is 2,240 yuan/ton.

The scrap steel market in Northeast China is running steadily, and merchants are eager to see a rise. The arrival and inventory of steel enterprises are both low, and there is a demand for inventory replenishment. The purchase price of heavy scrap steel of Jianlong Xigang (Yichun area) is 2,235 yuan/ton; the purchase price of heavy scrap steel of Angang is 2,452 yuan/ton; the purchase price of heavy scrap steel of Fushun Special Steel is 2,420 yuan/ton; the tax-free price of heavy scrap steel of Linggang is 2,100 yuan/ton.

The scrap steel market in North China is fluctuating and adjusting, the market sentiment has improved, the merchants are generally active in operation, the arrival of steel enterprises is poor, and the inventory level is low. The purchase price of heavy scrap steel of Shougang Qiangang is 2,500 yuan/ton, down by 20 yuan/ton; the purchase price of heavy category II scrap steel of Tianjin Steel Pipe is 2,410 yuan/ton, down by 100 yuan/ton; the purchase price of heavy category II scrap steel of Baosteel is 2,532 yuan/ton; the tax-inclusive price of heavy scrap steel of Hegang Shigang is 2,269 yuan/ton, down by 63 yuan/ton.