Price trend
On September 2nd, the steel scrap was mainly stable, and it was adjusted upwards individually. Jiangxi Jiujiang PX Steel's heavy scrap price has been raised by 100 RMB/ton.
Analysis review
On the 2nd, Tangshan warehousing billet inventory statistics: Zhenxiang's billet inventory was 54,200 tons, the stock in quantity was 1,400 tons, and the stock out quantity was 2,400 tons. Haiyi Hongrun has an inventory of 303,500 tons of billets, the stock in quantity was 75,000 tons, and the stock out quantity was 14,500 tons.
Recently, due to the impact of energy-saving dispatching in high-energy-consuming industries and the strengthening of environmental protection inspections, scrap recycling has decreased. The current scrap market resources are tight, giving certain support to the upward trend of scrap.
Market outlook
On the whole, considering the benefits brought about by the shortage of steel scrap, scrap may be stabilized with individual adjustments in the short term.
