During the week ending August 15, steel scrap prices in the Chinese market have indicated rising trends in a majority of regions, though prices in Tianjin and Nanchang have been stable, 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, scrap prices in most regions of China have increased due to support from the rises seen in domestic semi-finished steel prices. However, in certain regions, some steelmakers have halted their production due to environmental protection measures, resulting in a slackening of demand for scrap. Domestic prices of semi-finished steel, rebar and wire rod indicated significant rises in the first part of the given week, though declining in the latter part of the week, while scrap prices have followed their rising movement but have not indicated any declines yet. It is thought that scrap prices in the Chinese domestic market will be characterized by a soft trend in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
1,785 |
267 |
0 |
|
Liupanshui |
1,485 |
222 |
↑35 |
||
|
Zhangjiagang |
2,060 |
308 |
↑50 |
||
|
Handan |
1,840 |
275 |
↑50 |
||
|
Nanchang |
1,810 |
271 |
0 |
||
|
Anyang |
1,720 |
257 |
↑60 |
||
|
Jinan |
1,920 |
287 |
↑40 |
||
|
Average |
1,803 |
270 |
↑34 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.68