During the week ending February 28, local steel scrap prices in the Chinese market have moved on a stable trend, while transaction activity in the overall market has slowed and is now at low-to-medium levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, average prices in the Chinese domestic scrap market have moved on a stable trend, while activity has slackened compared to the previous week. Against the backdrop of the positive sentiment prevailing in the domestic steel market lately, it is expected that scrap prices in the Chinese domestic market will likely maintain their current levels 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 | 0 |
Liupanshui | 1,730 | 252 | 0 | ||
Zhangjiagang | 1,850 | 269 | 0 | ||
Handan | 1,850 | 269 | 0 | ||
Nanchang | 1,800 | 262 | 0 | ||
Anyang | 1,750 | 255 | 0 | ||
Jinan | 1,950 | 284 | 0 | ||
Average | 1,847 | 269 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.87