NOTE: No news updates over January 24-30 due to the Chinese New Year holiday. Happy CNY!
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Chinese traders optimistic on scrap sales in winter days

Many Chinese steel scrap traders were optimistic on scrap demand among the Chinese steel mills in the coming winter days, especially when many steelmakers are still having a healthy appetite for scrap to maintain their production pace now amid their healthy margins and they will need to replenish some volume before the Chinese New Year (CNY) holiday over January 24-30 2020.
“Some steel mills have already shown interest in purchasing steel scrap by raising their procurement prices, and accordingly, we are planning to adjust our pace of scrap deliveries to mills just to maximize our margins by achieving the highest sales prices possible,” a scrap trader in East China’s Jiangxi province

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