What futures do scrap iron prices look at?

The price of scrap iron mainly depends on the prices of iron ore futures and steel futures in the international futures market. Iron ore futures prices are affected by the relationship between market supply and demand and changes in the global economic environment, while steel futures prices are affected by steel production and demand. Therefore, investors can understand the changing trend of scrap iron prices by paying attention to the price fluctuations of iron ore and steel futures.

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