This week, the domestic scrap steel market first suppressed and then stabilized, and will mainly operate stably next week.

This week, the domestic scrap steel market first suppressed and then stabilized, and will mainly operate stably next week.

This week (10.23-10.27), the domestic scrap steel market first declined and then stabilized. On October 27, the scrap circulation benchmark price index of Lange Steel Network was 2416, down 31 points: the comprehensive benchmark price index for heavy scrap varieties was 2375, down 32 points, and the comprehensive benchmark price index for broken material varieties was 2458, down 30 points.

The scrap steel market in East China is operating weakly. The market price of heavy waste in Shanghai is 2,440 yuan, 30 yuan lower than last week; the market price of heavy waste in Jiangyin is 2,450 yuan, 50 yuan lower than last week; the market price of heavy waste in Zibo, Shandong is 2,505 yuan, lower than last week The price is reduced by 20 yuan.

The scrap steel market in North China fluctuates and adjusts. The market price of heavy waste in Beijing is 2,530 yuan, 30 yuan lower than last week’s price; the market price of heavy waste in Tangshan is 2,580 yuan, 10 yuan higher than last week; the market price of heavy waste in Tianjin is 2,450 yuan, lower than last week’s price Reduced by 30 yuan.

The scrap steel market in Northeast China has generally declined. The market price of heavy waste in Liaoyang is 2,410 yuan, 70 yuan lower than last week’s price; the market price of heavy waste in Shenyang is 2,380 yuan, 30 yuan lower than last week’s price.

Steel mills: The finished product market fluctuated this week, and steel mills’ profits did not see a significant recovery. Superimposed on the strength of dual-coke and iron ore, steel companies were under pressure to produce, and their willingness to scrap was not high, and scrap prices were weak. Judging from the news, due to the impact of environmental protection policies in Tangshan, Shijiazhuang and other places this week, the supply and demand of scrap steel showed both weakness. After the continuous increase in steel billet prices, the scrap prices of steel mills stopped falling and stabilized. Judging from the arrival situation, the overall scrap consumption of steel mills is currently at a low level, and the arrival of goods can basically meet daily consumption needs. The superimposed average inventory remains at about 10 days, and the short-term scrap purchase price operation is relatively stable.

Market: The sentiment at scrap steel bases and yards has improved this week, with normal sales frequency basically maintained. From a cost perspective, upstream scrap steel resources are currently tight, and it is difficult to collect low-priced goods from the base. Most merchants are not willing to stock up, so they are mainly waiting and watching cautiously.

Overall, the scrap steel market is currently in a weak position, with resource shortages helping it remain stable. In addition, favorable macroeconomic policies have frequently boosted market confidence, and the probability of a sharp drop in scrap steel prices in the short term is unlikely. However, the overall upward momentum is insufficient, and we need to continue to pay attention to the spot transactions of steel mills.

Based on comprehensive factor analysis, the domestic scrap steel market is expected to operate stably next week.