During the week ending July 28, local steel scrap prices in the Chinese market have indicated a rebound, while transaction activity in the overall market has remained at decent levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, prices of iron ore have indicated slight upticks, exerting a positive impact on scrap prices. In addition, some shortages have been seen in scrap supplies due to hot weather conditions, and this also provided support for scrap prices. It is expected that scrap prices in the Chinese domestic market will continue to move up slightly in the coming week.
Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
HMS scrap | > 6 mm | Tianjin | 1,330 | 214 | ↑30 |
Liupanshui | 1,290 | 208 | ↑40 | ||
Zhangjiagang | 1,270 | 205 | ↑20 | ||
Handan | 1,330 | 214 | ↑30 | ||
Nanchang | 1,270 | 205 | ↑20 | ||
Anyang | 1,250 | 201 | ↑50 | ||
Jinan | 1,290 | 208 | ↑20 | ||
Average | 1,290 | 208 | ↑30 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.21