During the week ending June 14, local steel scrap prices in the Chinese market have indicated a stable trend, while transaction activity in the overall market has been at medium levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, while local finished steel prices have risen slightly, scrap prices in the domestic market have not indicated any significant changes. Currently, steelmakers' scrap purchases are at normal levels, while there have been some shortages on the supply side. This has provided some support for scrap prices. It is thought that scrap prices in the Chinese domestic market will likely move on a stable trend in the coming week as finished steel prices are not expected to continue to rise.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,400 |
212 |
↔0 |
Liupanshui |
1,370 |
208 |
↔0 |
||
Zhangjiagang |
1,350 |
205 |
↔0 |
||
Handan |
1,400 |
212 |
↔0 |
||
Nanchang |
1,350 |
205 |
↔0 |
||
Anyang |
1,300 |
197 |
↔0 |
||
Jinan |
1,450 |
220 |
↔0 |
||
Average |
1,374 |
209 |
↔0 |
The above prices include 17 percent VAT
$1 = RMB 6.59