Scrap prices rise before falling
Release time:
2023-10-10
Scrap prices have gone through a process of rising first and then falling. The report shows that the value of scrap steel has increased in recent weeks as demand from the construction industry has surged.
Scrap prices have gone through a process of rising first and then falling. The report shows that the value of scrap steel has increased in recent weeks as demand from the construction industry has surged. The upward trend offers a glimmer of hope for steelmakers and scrap metal dealers, who are hoping for a sustained recovery after a long period of low prices. However, this optimism was short-lived, as market sentiment quickly shifted, causing scrap prices to fall later. Factors such as weak global economic growth and trade tensions among major economies contributed to this sudden reversal. It is clear that the volatility of the scrap market continues to present challenges for the industry as it struggles with uncertainty and attempts to weather these volatile market conditions.
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