Average scrap prices in the Chinese domestic market have continued the downtrend compared to the prices recorded on June 24.
Average domestic HMS scrap prices in China are at RMB 2,145/mt ($315/mt) ex-warehouse, indicating a decline of RMB 19/mt on average compared to June 24, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
Product name |
Specification |
Origin |
Price |
Price |
Weekly change |
Weekly change |
HMS
|
> 6 mm
|
Tianjin |
2,165 |
318.1 |
-30 |
-3.8 |
Liupanshui,Guizhou |
2,055 |
301.9 |
-10 |
-0.9 |
||
Nanchang,Jiangxi |
2,130 |
312.9 |
-20 |
-2.3 |
||
Handan,Hebei |
2,165 |
318.1 |
-20 |
-2.3 |
||
Anyang,Henan |
2,195 |
322.5 |
-20 |
-2.3 |
||
Zhangjiagang,Jiangsu |
2,175 |
319.5 |
-20 |
-2.3 |
||
Jinan,Shandong |
2,130 |
312.9 |
-10 |
-0.9 |
||
Average |
2,145 |
315.1 |
-19 |
-2.1 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, average scrap prices in the Chinese domestic market have continued the downtrend amid the slack demand from downstream users. A new round of rainy weather hit China, exerting a negative impact on the demand for steel, which also slackened the demand for scrap. Steelmakers mostly reduced the scrap purchasing prices to control the production cost. Inventoried of finished steel increased, negatively affecting steel prices, which will continue to weaken the support to scrap prices. Currently, the supply of scrap has decreased, which might bolster its prices to a certain degree. It is thought that scrap prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
$1 = RMB 6.8067
