Current Status

During October 2022, due to the sharp decrease in the cost of steel scrap, the main raw material to produce cast steel shots and cast steel grits, we saw a decrease of almost 3% in the price of steel abrasives.

In the first week of November 2022, the steel scrap cost increases day by day. Although we keep the quotation of cast steel shots and cast steel grits as the same as that at the end of October, the stable price may not last long. If the steel scrap cost continues the upward trend, we have to adjust the quotation of steel shots and steel abrasive accordingly.

Take the quotation of steel shot S660 as an example for your kind reference:

S660, FOB Qingdao Price: USD 585 per ton

Market Forecast

In October, the price of steel scraps fell continuously, and the panic in the scrap market was eased to a large extent. At the same time, considering the fact that the enthusiasm of current traders to trade scrap has declined, the supply of steel scraps is insufficient. The steel scrap price has begun to rebound, and the market mentality has improved. It is expected that the steel scrap market price will show an upward trend in November. If it is, the price of steel shot and steel grit will go upward correspondingly.