Haihao Group shares with you domestic steel market information
In the week spanning October 28th to November 3rd, the domestic scrap steel prices demonstrated a steady yet upward trajectory, easing the prevailing market pessimism and resulting in a deceleration in merchant sales. Notably, major steel enterprises witnessed a slight increase in scrap steel consumption, with delivered quantities marginally lower than the consumption figures. Among key steel enterprises, the average purchase prices for heavy, medium, and mixed scrap steel experienced upward adjustments of 4 yuan/ton, 5 yuan/ton, and 1 yuan/ton, respectively.
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In recent times, propelled by a series of growth-stabilizing policies, the finished steel market has exhibited positive trends, contributing to an uptick in steel enterprise profits. Bolstered by cost support, there is a notable inclination among steel enterprises to hold firm on scrap steel prices. Currently, scrap steel base receiving prices are on the rise, prompting merchants to adopt a cautious approach to selling. Simultaneously, heightened enthusiasm in steel production, particularly among electric furnace steel enterprises, has led to an increase in overall scrap steel consumption, resulting in a slight decline in delivered quantities. Overall, a narrow fluctuation is anticipated in the domestic scrap steel market in the short term.
Regional Market Highlights:
East China:
The scrap steel prices in East China are maintaining overall stability. With rising iron ore prices, the scrap steel market is optimistic about potential increases. Noteworthy procurement prices include 2860 yuan/ton for heavy scrap steel at Nangang Steel, 2920 yuan/ton at Shagang Steel, and 2960 yuan/ton at Xingcheng Special Steel.
Central China:
The scrap steel market in Central China is running steadily, with merchants displaying a relatively weak willingness to sell. Steel enterprise delivered quantities have slightly decreased. Ansteel’s purchase price for heavy scrap steel is 2910 yuan/ton, while Wugang Steel’s is 2960 yuan/ton.
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South China:
South China’s scrap steel market is undergoing a mild consolidation, with electric arc furnace steel enterprise profits experiencing minor recovery. Increased consumption of scrap steel is noted, leading to elevated procurement and processing quantities. Mingguang’s purchase price for heavy scrap steel is 2880 yuan/ton, while Shaogang Steel’s price is 2650 yuan/ton (excluding taxes), marking a 20 yuan/ton increase.
Southwest China:
The scrap steel market in Southwest China is trending stronger, characterized by difficulties in merchant receiving and improved profitability for steel enterprises. A slight upward adjustment in scrap steel purchase prices is observed. Heavy scrap steel at Chongqing Steel is priced at 2640 yuan/ton, reflecting a 50 yuan/ton increase.
Northwest China:
The scrap steel market in Northwest China is experiencing a weak yet stable run, with average steel enterprise delivered quantities. Purchase prices for heavy scrap steel at Xining Special Steel are 2780 yuan/ton, while Jiugang’s purchase price for medium scrap steel is 2480 yuan/ton, indicating a 38 yuan/ton decrease.
Northeast China:
Northeast China’s scrap steel market is temporarily stable, with merchants adopting a cautious stance toward future developments. Steel enterprises are adjusting purchase prices based on individual circumstances. Notable purchase prices include 2900 yuan/ton for heavy scrap steel at Linggang, 2740 yuan/ton at Jianlong Xigang, 2961 yuan/ton at Angang, and 2970 yuan/ton at Fushun Special Steel.
North China:
The scrap steel market in North China is maintaining stability, with merchants being cautious in selling, and steel enterprise delivered quantities experiencing a slight decline. Purchase prices for heavy scrap steel at Tianjin Steel Pipe are 2970 yuan/ton, 3020 yuan/ton at Shougang Qian’an, 3008 yuan/ton at Baosteel, and 2647 yuan/ton (excluding taxes) at Hegang Shigang, reflecting a 27 yuan/ton increase.
In this dynamic domestic scrap steel market environment, it is crucial to stay informed and agile. As a leading manufacturer of professional pipeline system products, Haihao Group remains vigilant, actively monitoring and engaging with developments in the domestic steel market to provide unparalleled solutions for our clients.