Steel Scrap Market Report in March 2013

Domestic prices of steel s crap moved down by RMB50-220/t this past month. In East China, Shagang Steel decreased the purchase price of steel scrap by RMB110/t, followed by neighboring steel mills which cut the price by RMB100-190/t.Asian Metal Copyright Liaoning-based Lingyuan Steel cut the purchase price of steel scrap by RMB220t VAT excluded to RMB1,720t for HMS at the month-end.Asian Metal Copyright Small southern Chinese steel mills gradually resumed production with slow growth of demand for steel scrap.Asian Metal Copyright The golden March that has been longed for had busted up, and annual reports of major steel mills disclosed overwhelming losses; given the steel market keeping soft in 2013, the price of steel scrap is likely to keep weak.Asian Metal Copyright But the circulation of steel scrap remained slow and the demand was still depressed, and small steel mills readjust price based on individual situation. Mainstream northern Chinese steel mills cut the price of steel scrap by RMB80-220/t this past month. Tianjin Steel Pipe kept the purchase price of HMS at RMB2,740/t VAT included, down by RMB100/t from that of the previous month. Liaoning-based Lingyuan Steel cut the purchase price of steel scrap by RMB220/t VAT excluded to RMB1,720/t for HMS at the month-end.Asian Metal Copyright Small southern Chinese steel mills gradually resumed production with slow growth of demand for steel scrap.Asian Metal Copyright The golden March that has been longed for had busted up, and annual reports of major steel mills disclosed overwhelming losses; given the steel market keeping soft in 2013, the price of steel scrap is likely to keep weak.Asian Metal Copyright Tianjin Steel Pipe kept the purchase price of HMS at RMB2,740t VAT included, down by RMB100t from that of the previous month.Asian Metal Copyright Details are as follows:.Asian Metal Copyright Liaoning-based Lingyuan Steel cut the purchase price of steel scrap by RMB220t VAT excluded to RMB1,720t for HMS at the month-endAsian Metal Copyright