Scrap price rises again in Alashankou

2005-04-07

[Alashankou, Xinjiang Region] Recently, Steel scrap price has experienced different fluctuations with quotations in mess in Alashankou. The scrap price ceased falling and rebounded, as the main transaction price grew up to RMB2080/ton again, up by about RMB 50/ton. However, the current chaos in the market still arouse much worries among market participants who argued that there must be kind of ill commercial speculation. Judging from relatively sufficient spot scrap resources at this port plus downward price adjustments conducted by domestic steelmakers, there also existed possibilities for the price to present changes in the near future, said industry insiders.