During the week ending June 20, steel scrap prices in the Chinese market have either risen or moved sideways depending on the region, while transaction activity in the overall market has been at low-to-medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, supply has been on the short side in the domestic scrap market, while some scrap suppliers have been willing to push up their prices as they considered that prices had previously fallen to relatively low levels. Meanwhile, domestic finished steel prices have moved up, providing support for the scrap market. It is thought that scrap prices in the Chinese domestic market will likely move on a rising trend in the coming week.
Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
HMS scrap | > 6 mm | Tianjin | 1,550 | 227 | 0 |
Liupanshui | 1,370 | 201 | 0 | ||
Zhangjiagang | 1,770 | 259 | ↑70 | ||
Handan | 1,700 | 249 | 0 | ||
Nanchang | 1,580 | 231 | 0 | ||
Anyang | 1,540 | 225 | ↑50 | ||
Jinan | 1,730 | 253 | ↑60 | ||
Average | 1,606 | 235 | ↑26 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.83