Scrap market is stable and weak, short-term or small

Release time：May 09, 2019 From：admin

On May 9th, the domestic scrap market was stable and weak. Recently, due to the threat of tariffs, the market risk aversion has warmed up, and the spot market is weak and the bearish scrap market is down. At the same time, the arrival of steel mills around the country quickly rebounded, the panic sentiment in the scrap market spread, and some steel companies took advantage of the price. At present, the profit of steel enterprises is still acceptable, and the demand for scrap steel still exists. There is still some support for its price. Under the premise that there is no obvious negative news at the macro level, short-term scrap may have a slight decline, and there is no risk of a big drop. 

    Price: Beijing area heavy scrap market price at 2370 yuan, down 20 yuan than yesterday. The price of the heavy waste market in Tangshan is 2425-2445 yuan, down 30 yuan from yesterday. The price of heavy waste market in Zibo area is around 2,320 yuan, which is flatter than yesterday; the price of heavy waste market in Liaoyang is about 2,330 yuan, which is flatter than yesterday; the price of heavy waste market in Shanghai is about 2080 yuan, which is the same as yesterday. The price of heavy waste market in Jiangyin is 2410 yuan, which is flatter than yesterday; the price of heavy waste market in Xi'an is 2,230 yuan, which is flatter than yesterday; the price of heavy waste market in Chongqing is 2,240 yuan, which is flat compared with yesterday; the price of heavy waste market in Guangzhou is 1890. Yuan, down 10 yuan from yesterday.