China’s major steel mills’ scrap consumption at end-April
According to statistics, at the end of April, China’s 168 major steel mill’s scrap arrival totaled around 1.93 million tons, up by roughly 346,000 tons compared to the previous week. The total inventory was around 3.62 million tons, a week-on-week increase of 82,700 tons; the total consumption was around 1.9 million tons, up by 223,000 tons from last week.
These steel mills had the willingness to purchase scrap before the Labor Day holiday, so some raised their purchase prices. Also, steel mills' scrap arrivals increased due to active shipment from suppliers.
Besides, the inventory of 80 traders slightly rose last week, with a total volume of approximately 220,000 tons currently, an increase of 150,000 tons from the previous week. The overall volume was lower than the normal level.
