SteelOrbis Shanghai
With the rocketing of the finished steel market, the leading mills have begun to increase their heavy scrap purchasing prices after a long and stable flat trend period.
On January 10, heavy
scrap prices in Zhangjiagang, southern
China, have risen RMB 70/mt ($9) week on week to RMB 2,080/mt ($267), while those in Alashankou, northern
China, were constant at RMB 1,810/mt ($232).
According to market price trend of recent days,
semis and
pig iron prices are on an upward trend, while
scrap prices continue to remain stable. Driven by the sharp rise in finished steel prices, the mills began to increase their prices for
scrap purchases.
In Zhangjiagang, the leading mill
Shagang has raised its purchase price of HMS 3 by RMB 60/mt to RMB 2,070/mt ($265); while the prices of Wuxi Xuefeng and Suzhou Steel are at RMB 2,090-2,140/mt ($268-274). In Jiangxi, Xinyu Steel's purchase price is at RMB 1,890/mt ($242), that of Nanchang Steel is at RMB 2,060/mt ($264). In Shandong, the purchase prices of
Laiwu Steel and Rizhao Steel are at RMB 2,020-2,060/mt ($259-264).
The
scrap market is not likely to see any big fluctuations next week and will probably increase steadily.