Core Insights - The domestic scrap steel market experienced slight fluctuations last week, with an increase in steel companies' arrival volumes and a narrow rise in inventory levels [1] - Major steel companies adjusted their average procurement prices for scrap steel, with heavy scrap steel prices increasing by 2 CNY/ton, medium scrap prices remaining stable, and mixed scrap prices rising by 8 CNY/ton [1] - Positive macroeconomic factors and rising metallurgical coke prices have stabilized the market, while production restrictions have pushed steel product prices upward [1] - The price gap between pig iron and scrap steel has narrowed, increasing steel companies' willingness to use scrap steel, while high temperatures and rainy weather have affected scrap processing and transportation, tightening supply and supporting scrap prices [1] East China Region - The scrap steel market in East China is showing a strong upward trend, with increased arrival volumes and consumption [1] - Specific procurement prices include: - Nanjing Steel heavy scrap at 2555 CNY/ton - Shagang heavy scrap at 2550 CNY/ton - Xingtai Special Steel heavy scrap at 2600 CNY/ton - Maanshan Steel heavy scrap at 2250 CNY/ton - Tongling Fuxin heavy scrap at 2660 CNY/ton, up by 120 CNY/ton - Shandong Steel heavy scrap bidding price at 2600 CNY/ton, down by 30 CNY/ton - Ningbo Steel July heavy scrap base price at 2192 CNY/ton [1] Central China Region - Scrap steel prices in Central China are stable with slight increases, and market resources are tight with increased consumption [2] - Specific procurement prices include: - Ansteel heavy scrap at 2590 CNY/ton, down by 10 CNY/ton - Wugang heavy scrap at 2710 CNY/ton, up by 30 CNY/ton - Lianyuan Steel heavy scrap at 2109 CNY/ton - Xianggang premium block scrap at 2240 CNY/ton - Wugang low-sulfur block scrap at 2530 CNY/ton, up by 20 CNY/ton - Henggang heavy scrap at 2010 CNY/ton [2] South China Region - Scrap steel prices in South China are stable with slight increases, with increased arrival volumes and reduced inventory turnover days [2] - Specific procurement prices include: - Sansteel Mingguang heavy scrap at 2500 CNY/ton - Shaogang second-class heavy scrap at 2360 CNY/ton, up by 10 CNY/ton [2] Southwest Region - Scrap steel prices in the Southwest region show mixed trends, with reduced output due to high temperatures affecting labor availability [2] - Specific procurement prices include: - Shougang Guigang heavy scrap at 2130 CNY/ton, down by 90 CNY/ton - Kunming Steel block scrap at 2260 CNY/ton, up by 20 CNY/ton [2] Northwest Region - Scrap steel prices in the Northwest region are stable with slight increases, as steel companies have increased arrival volumes and some with low inventories are in need of replenishment [2] - Specific procurement prices include: - Xining Special Steel heavy scrap at 2338 CNY/ton, up by 60 CNY/ton - Jiugang medium scrap at 2210 CNY/ton [2] Northeast Region - Scrap steel prices in the Northeast region are overall stable, with strong production willingness from steel companies and a tight supply-demand balance [3] - Specific procurement prices include: - Jianlong Xigang heavy scrap at 2372 CNY/ton, up by 31 CNY/ton - Ansteel heavy scrap at 2546 CNY/ton - Fushun Special Steel heavy scrap at 2520 CNY/ton - Linggang heavy scrap at 2220 CNY/ton [3] North China Region - Scrap steel prices in North China show mixed trends, with steel companies in a slight profit state and a reasonable willingness to use scrap steel [3] - Specific procurement prices include: - Shougang Qian'an heavy scrap at 2600 CNY/ton, down by 10 CNY/ton - Tianjin Steel second-class heavy scrap at 2550 CNY/ton, down by 30 CNY/ton - Baotou Steel second-class heavy scrap at 2488 CNY/ton - Taiyuan Steel heavy scrap at 2616 CNY/ton - Hebei Steel Shijiazhuang heavy scrap at 2332 CNY/ton, up by 9 CNY/ton [3]