The upward momentum in China's steel scrap prices will be capped by the growing expectation that steel mills will be forced to cut production in the second half of 2021, sources told Fastmarkets on Thursday July 8.
There has been increasing speculation among market participants over the past week that China is planning to control its annual steel output to keep it at the same level as 2020."Mills may be able to pay higher prices for scrap because the margins are...