During the week ending March 7, local steel scrap prices in the Chinese market have continued their stable trend, while transaction activity in the overall market has remained at low-to-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. The soft trend of domestic finished and semi-finished steel prices has exerted some pressure on scrap prices in China. Meanwhile, traders are unwilling to sell at current price levels, resulting in low-to-medium transaction activity in the market. It is expected that scrap prices in the Chinese domestic market will likely continue to remain stable in the coming week.
| Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| HMS scrap | > 6 mm | Tianjin | 2,000 | 290 | 0 |
| Liupanshui | 1,730 | 251 | 0 | ||
| Zhangjiagang | 1,850 | 269 | 0 | ||
| Handan | 1,850 | 269 | 0 | ||
| Nanchang | 1,800 | 261 | 0 | ||
| Anyang | 1,750 | 254 | 0 | ||
| Jinan | 1,950 | 283 | 0 | ||
| Average | 1,847 | 268 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.89