Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the previous week since, even though demand is still reduced and improvements are minimal, supply has also been impacted by snowy weather.
Average domestic HMS scrap prices in China are at RMB 2,710/mt ex-warehouse, slightly decreasing by RMB 1/mt on average compared to the previous week, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
Product name |
Specification |
Origin |
Price |
Price |
Weekly change |
Weekly change |
HMS |
> 6 mm |
Tianjin |
2,780 |
391.2 |
-10 |
-1.4 |
Liupanshui,Guizhou |
2,720 |
382.8 |
0 |
0.1 |
||
Nanchang,Jiangxi |
2,670 |
375.7 |
0 |
0.1 |
||
Handan,Hebei |
2,780 |
391.2 |
-20 |
-2.8 |
||
Anyang,Henan |
2,670 |
375.7 |
20 |
2.9 |
||
Zhangjiagang,Jiangsu |
2,730 |
384.2 |
0 |
0.1 |
||
Jinan,Shandong |
2,620 |
368.7 |
0 |
0.1 |
||
Average |
2,710 |
381.4 |
-1 |
-0.1 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
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During the given week, scrap prices in the Chinese domestic market have fluctuated within a limited range amid the fluctuations of ferrous metal futures prices. Lately, steelmakers have gradually resumed production, resulting in the rise in scrap consumption, bolstering scrap prices. At the same time, the supply of scrap has not indicated big increases. It is expected scrap prices in the Chinese domestic market will continue their fluctuating trend in the coming week.
The tradable level for ex-Japan HS is still stable at $375-385/mt CFR for Chinese buyers.
$1 = RMB 7.1075