Steel Scrap Market Report December 2011

Steel scrap price had decreased sharply in some areas in China since the beginning of December and mainstream price continued to drop in the whole domestic market.Asian Metal Copyright Traders preferred to watch the market due to the current sluggish movements and small-and-middle scale traders had stopped offering.Asian Metal Copyright Both demand and supply kept at a low level due to sluggish movements as mainstream mills were unwilling to take position.Asian Metal Copyright Even most small-and-middle scale mills stopped production.Asian Metal Copyright The price fell significantly in South China as mainstream mills increased their bids during the middle period of this month in order to promote delivery due to the insufficient inventories.Asian Metal CopyrightSteel scrap price had decreased sharply in some areas in China since the beginning of December and mainstream price continued to drop in the whole domestic market.Asian Metal Copyright Then, mills had better delivery and more inventories.Asian Metal Copyright Both demand and supply kept at a low level due to sluggish movements as mainstream mills were unwilling to take position.Asian Metal Copyright However, steel scrap price fell back significantly in the last period of December due to the great pressure from the high cost.Asian Metal Copyright Both demand and supply kept at a low level due to sluggish movements as mainstream mills were unwilling to take position.Asian Metal Copyright Movements nearly halted in North China due to the cold weather.Asian Metal Copyright The price fell significantly in South China as mainstream mills increased their bids during the middle period of this month in order to promote delivery due to the insufficient inventories.Asian Metal Copyright Mills had plans to reduce production in the end of 2011.Asian Metal Copyright Then, mills had better delivery and more inventories.Asian Metal Copyright Even most small-and-middle scale mills stopped production.Asian Metal Copyright Traders preferred to watch the market due to the current sluggish movements and small-and-middle scale traders had stopped offering.Asian Metal Copyright Most mills stated that they had no plan to take position on large-quantity base as some blast furnaces stopped for examination.Asian Metal Copyright Then, mills had better delivery and more inventories.Asian Metal Copyright Traders preferred to watch the market due to the current sluggish movements and small-and-middle scale traders had stopped offering.Asian Metal Copyright Both demand and supply kept at a low level due to sluggish movements as mainstream mills were unwilling to take position.Asian Metal Copyright Hence, steel scrap market was hard to improve before the Spring Festival.Asian Metal Copyright Traders preferred to watch the market due to the current sluggish movements and small-and-middle scale traders had stopped offering.Asian Metal Copyright