Average scrap prices in the Chinese domestic market have seen slight changes compared to the prices recorded on December 24 as weak demand has been balanced by reduced supply. The outlook is from stable to negative as demand is unlikely to improve soon.
Average domestic HMS scrap prices in China are at RMB 2,130/mt ex-warehouse, increasing by RMB 3/mt on average compared to December 24, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,175 | 309.2 | 0 | 0.7 |
| Liupanshui,Guizhou | 1,990 | 282.9 | 40 | 6.4 | ||
| Nanchang,Jiangxi | 2,130 | 302.8 | 0 | 0.7 | ||
| Handan,Hebei | 2,185 | 310.6 | 15 | 2.9 | ||
| Anyang,Henan | 2,140 | 304.2 | 0 | 0.7 | ||
| Zhangjiagang,Jiangsu | 2,140 | 304.2 | -35 | -4.2 | ||
| Jinan,Shandong | 2,150 | 305.6 | 0 | 0.7 | ||
| Average | 2,130 | 302.8 | 3 | 1.1 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have seen slight changes amid the slack demand for finished steel during the traditional cold winter offseason. Delivery of scrap to part of recycling bases has been at relatively low levels, bolstering its prices to a certain degree. However, since the New Year holiday is approaching, the demand for scrap will not see significant improvement, which will negatively affect its prices. It is expected that scrap prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
$1 = RMB 7.0288
