During the week ending August 23, local steel scrap prices in the Chinese market have mostly indicated a rising trend, though prices have remained unchanged in Handan, Hebei and Zhangjiagang, Jiangsu, while transaction activity in the overall market has been slacker, now at low levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, due to rising trends seen in prices of iron ore and semi-finished steel, scrap prices have also indicated an upward trend. However, due to the approaching G20 Summit, some steelmakers' production activity has been temporarily affected, resulting in a reduction in scrap purchases. As for the coming week, purchasing activities are unlikely to improve. It is thought that scrap prices in the Chinese domestic market will likely move on a stable trend in the coming week.
Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
HMS scrap | > 6 mm | Tianjin | 1,650 | 248 | ↑50 |
Liupanshui | 1,580 | 238 | ↑50 | ||
Zhangjiagang | 1,680 | 253 | 0 | ||
Handan | 1,580 | 238 | 0 | ||
Nanchang | 1,600 | 241 | ↑20 | ||
Anyang | 1,570 | 236 | ↑20 | ||
Jinan | 1,670 | 252 | ↑20 | ||
Average | 1,619 | 244 | ↑23 |
The above prices include 17 percent VAT
$1 = RMB 6.63