MONTHLY: Tight supply to buoy China's ferrous scrap prices in May

Source: Mysteel May 07, 2026 17:30

China's steel scrap prices are likely to trend upward in May, supported by persistently tight supply conditions, Mysteel's latest market report suggests.

Chinese scrap prices remained broadly stable in April, with the national composite steel scrap price under Mysteel's assessment averaging Yuan 2,478/tonne ($363.8/t), including 13% VAT, unchanged from March. Entering this month, prices had edged up to Yuan 2,486/t as of May 6. Since the Chinese government stepped up its "reverse