The domestic scrap market in China has remained stable at relatively high levels in the past week. Players are pessimistic on the current transaction situation, while there are also liquidity problems in the market. Traders have slowed down their activities and there has been an obvious decline in the number of deals. Scrap deliveries to the mills have declined recently, while domestic finished product prices have been indicating downward movement.
Scrap prices in Chinese local Markets
Product name |
Specification |
Origin |
Price |
Price |
Weekly change |
HMS scrap |
> 6 mm |
Tianjin |
3,720 |
573 |
0 |
Liupanshui |
3,750 |
578 |
50 |
||
Xinyu |
3,760 |
579 |
0 |
||
Handan |
3,550 |
547 |
0 |
||
Nanchang |
3,780 |
582 |
0 |
||
Anyang |
3,730 |
575 |
0 |
||
Average |
3,715 |
572 |
8 |
Apart from an increase of $7.7/mt in the Liupanshui market, hot melting prices have remained unchanged in the other regions of China in the past week. The average scrap price in China is reported at $572/mt, while scrap is offered at $547/mt in Handan and at $573/mt in Tianjin.
Some finished steel product prices have started to drop down in China, and this has exerted some downward pressure on domestic scrap prices. Meanwhile, because of the rainy weather, traders have trouble in receiving scrap supplies, while there is also shortage of trucks to transport scrap materials.