During the week ending July 25, average steel scrap prices in the Chinese market have mostly softened, though prices in some regions have remained unchanged, 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, ferrous metals futures prices in China have decreased, contributing to the mostly soft trend of scrap prices. At the same time, however, the hot weather conditions seen in most regions of China have resulted in reduced scrap collection, which has provided some support for scrap prices. It is thought scrap prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
1,750 |
259 |
↓30 |
|
Liupanshui |
1,450 |
215 |
0 |
||
|
Zhangjiagang |
1,970 |
292 |
0 |
||
|
Handan |
1,790 |
265 |
↓50 |
||
|
Nanchang |
1,750 |
259 |
0 |
||
|
Anyang |
1,660 |
246 |
↓10 |
||
|
Jinan |
1,880 |
279 |
↓20 |
||
|
Average |
1,750 |
259 |
↓16 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.75