News summary
Huanjing Steel Plant partially raised mining waste prices todaygoldenpoker, the market price of scrap steel around Beijing rose slightly. The strong operation of black futures boosted market confidence, but steel mills 'profits limited the continued upward momentum of scrap steel. The pace of market shipments slowed down due to the impact of policies, and the market mentality became cautious.
Newsletter text
[Steel scrap prices showed a partial upward trend] On May 22, in the area around Beijing, some steel mills chose to slightly increase the purchase price of scrap steel, and the overall scrap steel market showed a narrow upward trend. Driven by market factors, the scrap steel market has shown a strong adjustment trend. However, faced with the practical problem of limited profits of steel mills and the reduction of coke costs, the cost performance of scrap steel has weakened, which restrictsgoldenpokerThe driving force for its continued rise. From the supply side, the current output of scrap steel is limited. The receipt situation of scrap steel bases is generally average. The pace of market shipments has been affected by policies and has slowed down significantly. Market participants remain cautious. After comprehensively analyzing multiple factors, a prediction is made on the direction of the scrap steel market around Beijing tomorrow.
