Tag: China: Scrap prices expected to remain under pressure in August amid weak steel demand

Seasonal slowdown continues to weigh on demand September demand recovery expectations support market sentiment China’s ferrous scrap market is expected to remain under pressure through August as sluggish finished steel demand, lower steel production, and shrinking mill margins continue to weigh on raw material consumption. Steelmakers, particularly electric arc furnace (EAF) producers, are expected to…