During the week ending September 5, steel scrap prices in the Chinese market have been stable in most regions, though prices in Zhangjiagang and Anyang have increased, 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 table below.
During the given week, after a fire broke out on September 1 at Bengang Steel Plate Co., a subsidiary of Benxi Iron and Steel (Group) Co. (Bengang Group), sentiment among market players improved as they considered that possible shortages in finished steel supply could exert a positive impact on scrap prices. It is thought that scrap prices in the Chinese domestic market will likely edge up or move sideways in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
1,785 |
273 |
0 |
|
Liupanshui |
1,530 |
234 |
↑20 |
||
|
Zhangjiagang |
2,080 |
318 |
0 |
||
|
Handan |
1,840 |
281 |
0 |
||
|
Nanchang |
1,810 |
276 |
0 |
||
|
Anyang |
1,760 |
269 |
↑40 |
||
|
Jinan |
1,970 |
301 |
0 |
||
|
Average |
1,825 |
279 |
↑9 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.55