Last week, domestic scrap prices fell sharply, the market wait-and-see sentiment is stronger, steel scrap purchase enthusiasm weakened. Average scrap purchase price of key steel enterprises compared with the previous week, heavy scrap price down 313 yuan/ton, medium scrap price down 316 yuan/ton, bulk scrap price down 301 yuan/ton.

Last week, steel prices have been reduced, steel mills are in a state of loss, overlay epidemic and high temperature and rainy weather impact, material destocking pressure increases, steel maintenance and production reduction increases day by day, some electric furnace steel production phenomenon. Steel companies will cost pressure to the raw material end transmission, scrap prices for several days significantly reduced, a weekly drop of 300 yuan/ton ~ 500 yuan/ton. Businessmen panic, throw more goods, resulting in a surge in the arrival of some steel mills. Recently, the steel futures market shock, but spot prices rose less, scrap merchants look forward to rising, shipping speed is slowing. Expected in the short term scrap market shock weak operation, the price decline or will narrow.

East China scrap prices overall decline, steel procurement scrap will reduce. Nangang heavy scrap purchase price is 3260 yuan/ton, reduced by 330 yuan/ton; Shagang heavy scrap purchase price of 3460 yuan/ton, reduced by 320 yuan/ton; Xingcheng Special Steel heavy scrap purchase price is 3430 yuan/ton, reduced by 350 yuan/ton; Maanshan Heavy scrap purchase price is 3310 yuan/ton, reduced by 320 yuan/ton; Tongling Fuxin heavy scrap purchase price is 3660 yuan/ton, reduced by 190 yuan/ton; The bidding price of steel bar cutters of Shangang Laigang is 3650 yuan/ton, reduced by 460 yuan/ton; Xiwang Metal boutique heavy scrap purchase price of 3400 yuan/ton, reduced 421 yuan/ton; Ningbo Iron and Steel in June heavy scrap purchase base price is 3560 yuan/ton.