China's scrap prices expected to remain high

After the Lantern Festival, Chinese steelmakers filled their stocks and the increase in demand caused scrap prices to increase in China.

It is among the information obtained that the capacity utilization rate of 87 independent electric arc furnace steel plants in China increased by 19.78% week on week to 23.33%.

Despite the increasing demand for finished products, the low level of scrap supply is expected to cause scrap prices to remain high in the short term.