During the given week, finished steel prices in China have indicated downticks, limiting the profitability of steelmakers, causing them to seek lower purchase prices for scrap. Some steelmakers have also started to use more pig iron instead of scrap, resulting in reduced demand for scrap. It is expected that scrap prices in the Chinese domestic market will continue to move on a slight downtrend as most steelmakers are only making purchases in line with their needs.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,580 |
255 |
↓20 |
Liupanshui |
1,550 |
250 |
↓80 |
||
Zhangjiagang |
1,520 |
245 |
↓30 |
||
Handan |
1,570 |
253 |
↓30 |
||
Nanchang |
1,500 |
242 |
↓20 |
||
Anyang |
1,500 |
242 |
↓50 |
||
Jinan |
1,530 |
247 |
↓20 |
||
Average |
1,536 |
248 |
↓36 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.20