Average scrap prices in the Chinese domestic market have edged up slightly compared to the prices recorded on April 16. Average domestic HMS scrap prices in China are at RMB 2,153/mt ex-warehouse, edging up by RMB 4/mt ($0.6/mt) on average compared to previous week, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,275 | 315.7 | 20 | 2.9 |
| Liupanshui,Guizhou | 2,090 | 290.0 | 20 | 2.9 | ||
| Nanchang,Jiangxi | 2,070 | 287.2 | -10 | -1.3 | ||
| Handan,Hebei | 2,255 | 312.9 | -10 | -1.3 | ||
| Anyang,Henan | 2,120 | 294.2 | 0 | 0.1 | ||
| Zhangjiagang,Jiangsu | 2,140 | 296.9 | -10 | -1.3 | ||
| Jinan,Shandong | 2,120 | 294.2 | 20 | 2.9 | ||
| Average | 2,153 | 298.7 | 4 | 0.7 | ||
| 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 rises amid the declining resources arriving at the market. Inventory levels of scrap continued the downtrend, bolstering its prices. Meanwhile, coke prices have seen rises, resulting in higher quality-price ratio of scrap than molten iron, thereby steelmakers have been more willing to purchase scrap, exerting a positive impact on its prices. Amid the approaching Labor Day holiday (May 1-5), there might be a round of stock replenishment for scrap, which will positively affect its prices. It is expected that scrap prices in the Chinese domestic market will edge up further in the coming week.
The latest tradable level for ex-Japan HS scrap is at $290-310/mt CFR, moving sideways compared to that recorded on April 16, but import trading remained silent.
$1 = RMB 7.2116