During the week ending February 21, average prices of local steel scrap in the Chinese market have increased in Tianjin, Zhangjiagang and Jinan, though remaining stable in other regions, while transaction activity in the overall market has been at medium levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, prices in China of finished steel, semi-finished steel and iron ore have increased, providing a certain degree of support for domestic scrap prices. Sentiment in the Chinese steel market has improved. However, the closure of intermediate frequency melting furnaces within the scope of environmental protection measures has continued to impact negatively on scrap prices in the domestic market by restricting demand for scrap. It is expected that scrap prices in the Chinese domestic market will likely just indicate slight fluctuations in the coming week.
Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
HMS scrap | > 6 mm | Tianjin | 2,000 | 291 | ↑50 |
Liupanshui | 1,730 | 251 | 0 | ||
Zhangjiagang | 1,850 | 269 | ↑30 | ||
Handan | 1,850 | 269 | 0 | ||
Nanchang | 1,800 | 262 | 0 | ||
Anyang | 1,750 | 254 | 0 | ||
Jinan | 1,950 | 283 | ↑50 | ||
Average | 1,847 | 268 | ↑19 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.88