Steel scrap prices possible to slide for downward steel market
2013-03-28 17:14:12 【Print】
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Steel mills reduced consumption of steel scrap due to weak demand for steel products in 2012 and steel scrap prices hovered around low level all year around. After the Spring Festival, domestic steel mills increased capacity significantly due to an upward expectation, which resulted in serious oversupply in steel market. Affected by this, steel scrap prices trended downwards. New policies for real estate market and news about environmental protection check triggered downward trend in the steel market again, so steel scrap prices may further slide in the near-term.
