China's insufficient scrap imports limit in abating pressure on iron ore market
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Update time : 2021-05-24 20:17:15
According to the analysis of sources, it was estimated that China's scrap imports will hardly exceed 1 million tons this year, which will have a limited effect on alleviating pressure on the iron ore market.
In view of the data from Chinese customs, from January to April of the year 2021, China's imports of scrap steel are still increasing slowly.
Market analysts pointed out that one of the reasons was the recent sharp rise in the price of scrap in the international market. After adding freight and miscellaneous fees, the price is not far from the domestic price, so importers are more conservative.
Another reason was speculated that most scrap importers are still getting used to the situation. At present, the imported scrap is basically 6mm and above, rather than small and medium-sized scrap which is suitable for electric furnaces.
