Market Insights
China's steel scrap market has spent most of the January-March quarter in the doldrums, with scrap prices continuing to decline, even though first quarter is usually when the country's ferrous industry picks up. For the country's scrap collectors and distributors, now might be the time to see if the
Stocks of the five major carbon steel products held by traders across China declined for the third consecutive week over March 22-28, with the tonnage falling by 2.8% on week, Mysteel's latest weekly survey has found.
Although steelmakers in more regions of China have churned out more hot metal recently, they continue to adopt a prudent approach to iron ore procurement as their financials remain poor, Mysteel Global has learned.
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