During the week ending March 14, local steel scrap prices in the Chinese market have continue their stable trend, while transaction activity in the overall market has remained at medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, average prices of local steel scrap in the Chinese market have moved on a stable trend, while transaction activity has been better than in the previous week and is now at medium levels. However, the rising trend of domestic finished steel and ferrous metal futures prices seen in recent days will likely positively impact local steel scrap prices in the spot market. It is thought that scrap prices in the Chinese domestic market will move up slightly in the coming week.
| Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| HMS scrap | > 6 mm | Tianjin | 2,000 | 289 | 0 |
| Liupanshui | 1,730 | 250 | 0 | ||
| Zhangjiagang | 1,850 | 267 | 0 | ||
| Handan | 1,850 | 267 | 0 | ||
| Nanchang | 1,800 | 260 | 0 | ||
| Anyang | 1,750 | 253 | 0 | ||
| Jinan | 1,950 | 282 | 0 | ||
| Average | 1,847 | 267 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.92