Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View No information provided. 3. Summary According to Related Catalogs 3.1. Regional Scrap Steel Prices - Scrap steel prices in East China, Central China, Northeast China, South China, and Southwest China from September 23 - 29, 2025 are presented, with specific prices and their daily changes [1][12] - The price of Shagang's heavy - three scrap steel (tax - included) from 2022 - 2025 shows a general downward trend over the years [2][3] - The price of Zhenjiang Hongtai's shear scrap (tax - excluded) from 2022 - 2025 also shows a downward trend [4][5] 3.2. Scrap Steel Inventory and Consumption - Steel mill scrap steel inventory from 2022 - 2025 is presented, but detailed numerical information is incomplete [7] - Short - process daily consumption from 2022 - 2025 shows different consumption levels throughout the year [8] - Long - process daily consumption from 2022 - 2025 also shows different consumption levels during the year [13] - Scrap steel social inventory from 2019 - 2025 shows the inventory situation over the years [10][11] 3.3. Scrap Steel Arrival - Zhangjiagang's scrap steel arrival from 2022 - 2025 is presented [9] - The scrap steel arrival of 147 steel mills from 2022 - 2025 is presented [13] 3.4. Other Indicators - The difference between the price of screw steel and scrap steel in East China from 2022 - 2025 is presented [11] - The profit of Jiangsu's electric - arc furnace threaded steel from 2022 - 2025 is presented [11]

1. Report Information - Report Title: Scrap Steel Morning Report [1] - Report Date: July 23, 2025 [2] - Research Team: Black Team of the Research Center [2] 2. Scrap Steel Prices Regional Prices | Date |华东 |华北 |中部 |华南 |东北 |産南 | | --- | --- | --- | --- | --- | --- | --- | | 2025/07/16 | 2197 | 2271 | 2030 | 2201 | 2222 | 2125 | | 2025/07/17 | 2196 | 2272 | 2032 | 2200 | 2225 | 2125 | | 2025/07/18 | 2199 | 2273 | 2032 | 2205 | 2228 | 2135 | | 2025/07/21 | 2209 | 2294 | 2046 | 2236 | 2233 | 2162 | | 2025/07/22 | 2214 | 2298 | 2055 | 2259 | 2253 | 2172 | |环比 | - | - | - | 23 | 20 | 10 | [3] Specific Steel Mill Prices - Shagang Heavy Three Price (Tax Included) [3] - Zhenjiang Hongtai Sheared Scrap Price (Tax Excluded) [5] 3. Consumption and Inventory Data Consumption - Short - Process Daily Consumption: Data from 2022 to 2025 is presented [7] - Long - Process Daily Consumption: Data from 2022 to 2025 is presented [11] Inventory - Scrap Steel Social Inventory: Data from 2019 to 2025 is presented [9] - 147 Steel Mills' Scrap Steel Arrival: Data from 2019 to 2025 is presented [12] - Steel Mills' Scrap Steel Inventory: Data from 2022 to 2025 is presented [12] 4. Other Data - Zhangjiagang Scrap Steel Arrival: Data from 2022 to 2025 is presented [7] - East China Rebar - Scrap Price Difference: Data from 2022 to 2025 is presented [9] - Jiangsu Electric Arc Furnace Rebar Profit: Data from 2022 to 2025 is presented [9]