Scrap steel prices underwent minor adjustments last week, with mills making slight tweaks to procurement rates based on their own arrival and consumption patterns. The scrap market maintained a tight supply-demand equilibrium, resulting in overall prices consolidating within a narrow range.

As of November 20, 2025, the scrap steel market maintained a narrow fluctuation pattern with minimal price changes. Overall, the supply-demand dynamics remained tightly balanced, with steel mills' scrap steel arrivals roughly matching consumption levels. The tight balance is expected to persist next week, with scrap steel prices likely to consolidate within a narrow range.

Supply Side:

The average daily scrap steel arrivals at 255 steel mills nationwide reached 495,300 tons, up 7,300 tons (1.50%) from the previous week. Among these, 132 long-process steel mills recorded average daily arrivals of 233,600 tons, down 1,100 tons (0.50%) week-on-week. Among these, 89 short-process steel mills recorded an average daily scrap steel arrival of 163,500 tons, up 6,700 tons (4.30%) from last week. Of these, 29 integrated steel mills reported an average daily scrap steel arrival of 91,700 tons, up 1,900 tons (2.10%) from last week.

Last week, the total scrap steel arrivals at steel mills nationwide saw a slight increase compared to the previous week. Social scrap steel resources remain relatively tight, but with low expectations for the market outlook, traders mostly adopted a quick-in, quick-out business strategy, maintaining reasonable sales enthusiasm.

Demand Side:

Daily scrap consumption across 255 steel mills nationwide reached 507,800 tons, down 1,000 tons (0.20%) from the previous week. Among these, 132 long-process mills consumed 240,300 tons daily, decreasing by 1,200 tons (0.50%). Among 89 short-process steel mills, daily scrap consumption was 169,100 tons, down 1,000 tons (0.60%) week-on-week. Among 29 integrated steel mills, daily scrap consumption was 92,100 tons, up 1,200 tons (1.30%) week-on-week.

Steel mills' daily scrap consumption remains stable. With profits under pressure, mills show no willingness or action to increase scrap usage. Sample mills' daily scrap consumption has temporarily stabilized around 500,000 tons, exerting a neutral impact on scrap demand.

Overall, the scrap market's supply-demand dynamics are expected to see limited changes for now. The tight supply-demand balance is likely to persist, with scrap prices continuing their narrow range consolidation.

As an integrated internet platform providing benchmark prices, on November 26, the benchmark price of scrap steel from SunSirs was 2,355.25 RMB/ton, a decrease of 2.26% compared with the beginning of the month (2,409.75 RMB/ton).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

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