During the week ending July 26, local steel scrap prices in the Chinese market have mostly moved on a stable trend, though indicating declines in Anyang, Henan, while transaction activity in the overall market has slackened further and remains weak. Average scrap prices in China's main markets are presented in the table below.
During the given week, Chinese steelmakers have been keeping their scrap inventories at low levels strategy, contributing to the further weakening of transaction activity in the scrap market. Scrap supply in on the short side in the spot market and so scrap traders have mostly been able to keep their prices stable. However, domestic prices of finished steel and semi-finished steel have been moving on a fluctuating trend, weakening the support for scrap prices. It is thought that scrap prices in the Chinese market will likely edge down slightly in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,530 |
229 |
↔0 |
Liupanshui |
1,510 |
226 |
↔0 |
||
Zhangjiagang |
1,550 |
232 |
↔0 |
||
Handan |
1,520 |
228 |
↔0 |
||
Nanchang |
1,500 |
225 |
↔0 |
||
Anyang |
1,520 |
228 |
↓30 |
||
Jinan |
1,550 |
232 |
↔0 |
||
Average |
1,526 |
229 |
↓4 |
The above prices include 17 percent VAT
$1 = RMB 6.67