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PrintIt is reported that in recent days scrap steel market in central China is witnessing tight resource supply, while steel manufacturers are controlling cost rigidly, and trade is stuck.
Currently in central China, the purchase price of scrap steel stands at CNY 2,000 per tonne to CNY 2,300 per tonne in general, but if you want to make the deal, you have to pay CNY 2,300 per tonne to CNY 2,500 per tonne or even higher.
Steel manufacturers, whose confidence has been consumed by the roller coaster like price changes, are in a tough situation now.
Even now industry insiders still fear the wild price plummet, which badly squeezed the room for profit and fouled the air of the market. In the sluggish market, all sides can do nothing but to help each other to brave over the tough time.
(Sourced from MySteel.net)
Editor: Ivy
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