During the week ending September 26, steel scrap prices in the Chinese market have seen declines in some regions, while remaining stable in other regions. 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 eastern China have declined amid plentiful supply, while in other regions scrap prices have mostly indicated a stable trend. Recently, rebar futures prices and semi-finished steel prices in China have decreased sharply, exerting a negative impact on the scrap market. It is thought that scrap prices in the Chinese domestic market will continue their downward trend in the coming week because demand will be slacker due to the approach of the National Day Holiday (October 1-8) .
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,785 |
269 |
0 |
Liupanshui |
1,555 |
235 |
0 |
||
Zhangjiagang |
1,930 |
291 |
↓95 |
||
Handan |
1,830 |
276 |
↓10 |
||
Nanchang |
1,840 |
278 |
0 |
||
Anyang |
1,795 |
271 |
0 |
||
Jinan |
1,950 |
294 |
↓20 |
||
Average |
1,812 |
273 |
↓18 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.63