During the week ending January 3, local steel scrap in the Chinese market have either softened slightly or trended sideways, while 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, decreases in domestic semi-finished steel prices as well as in finished steel prices in China have exerted negative pressure on scrap prices in the spot market. Given the current traditional off-season for business amid cold winter weather conditions in China, it is thought that scrap prices in the Chinese domestic market will likely just indicate slight fluctuations in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,850 |
266 |
0 |
Liupanshui |
1,730 |
249 |
0 |
||
Zhangjiagang |
1,840 |
265 |
↓40 |
||
Handan |
1,820 |
262 |
0 |
||
Nanchang |
1,750 |
252 |
0 |
||
Anyang |
1,780 |
256 |
0 |
||
Jinan |
1,880 |
271 |
↓20 |
||
Average |
1,807 |
260 |
↓9 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.95