Average scrap prices in the Chinese domestic market have moved on an uptrend compared to August 21.
Average domestic HMS scrap prices in China are at RMB 2,143/mt ex-warehouse, increasing by RMB 34/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 |
Price |
Weekly change |
Weekly change |
HMS |
> 6 mm |
Tianjin |
2,265 |
317.9 |
65 |
9.5 |
Liupanshui,Guizhou |
2,000 |
280.7 |
0 |
0.3 |
||
Nanchang,Jiangxi |
2,030 |
284.9 |
20 |
3.1 |
||
Handan,Hebei |
2,225 |
312.3 |
65 |
9.5 |
||
Anyang,Henan |
2,090 |
293.3 |
60 |
8.7 |
||
Zhangjiagang,Jiangsu |
2,200 |
308.8 |
0 |
0.3 |
||
Jinan,Shandong |
2,190 |
307.4 |
30 |
4.6 |
||
Average |
2,143 |
300.8 |
34 |
5.1 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices in the Chinese domestic market have indicated a rebounding trend, following rises in finished steel prices. Recently, the volume of scrap resources arriving at the market has decreased, bolstering its prices from supply side. Meanwhile, ferrous metal futures prices have edged up, also exerting a positive impact on scrap market. It is thought that scrap prices in the Chinese domestic market will move sideways in the coming week.
The latest ex-Japan HS scrap offer prices have been heard at JPY 51,100/mt ($347/mt) CFR, decreasing by JPY 500/mt compared to that recorded on August 21, while the dollar equivalent has lost $3/mt. However, this price has been still too high for buyers, who assessed the workable levels at $300-320/mt CFR in line with the local market.
$1 = RMB 7.1216
