During the week ending January 24, average prices of local steel scrap in the Chinese market have indicated a stable trend, while transaction activity in the overall market has been at low levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, scrap prices in the Chinese domestic market have remained unchanged. Most trading companies have already exited the market ahead of the Chinese New Year Holiday, resulting in slack transaction activity for scrap. It is thought that steel scrap prices in the Chinese domestic market will remain on a stable trend during the holiday period, while it is also expected that steel scrap prices will move sideways in the period immediately after the holiday.
Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
HMS scrap | > 6 mm | Tianjin | 1,850 | 270 | 0 |
Liupanshui | 1,730 | 252 | 0 | ||
Zhangjiagang | 1,820 | 265 | 0 | ||
Handan | 1,820 | 265 | 0 | ||
Nanchang | 1,750 | 255 | 0 | ||
Anyang | 1,750 | 255 | 0 | ||
Jinan | 1,860 | 271 | 0 | ||
Average | 1,797 | 262 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.86