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Reduction of prices on a steel scrap in the Chinese market proceeds already whole year.

 Reduction in price of a steel and iron ore pulls behind itself and the prices for a steel scrap. So, for last year it has gone down in price on 30 % to 2600 yuans per ton ($410). In September, 2012 company Baosteel has lowered procurement prices of a steel scrap in Shanghai for 310 yuans ($48,9) in comparison with the end of August.

The bearish trend gains in strength against falling of the IORM prices and tendencies to reduction of steelmaking manufacture. Steel scrap quotations can come nearer to a mark in 2200 yuans ($347) which was observed after crisis by autumn of 2008.

In the Japanese market the steel scrap also becomes cheaper. Company Tokyo Steel cut down on September, 8th procurement prices of a steel scrap for all factories for 500 yens ($6,4) - in the third time for last month. The company buys now a steel scrap on 25,5-27,5 thousand yens per ton ($324-351,5).

Anastassia Redko

By data: SOGRA

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