Average scrap prices in the Chinese domestic market have edged down slightly compared to the prices recorded on December 18 amid sufficient supply, though decline has been minimal as fundamentals are unchanged.
Average domestic HMS scrap prices in China are at RMB 2,292/mt ex-warehouse, decreasing by RMB 11/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 |
2,460 |
342.2 |
0 |
0.0 |
Liupanshui,Guizhou |
2,205 |
306.8 |
0 |
0.0 |
||
Nanchang,Jiangxi |
2,165 |
301.2 |
-60 |
-8.3 |
||
Handan,Hebei |
2,350 |
326.9 |
-10 |
-1.3 |
||
Anyang,Henan |
2,195 |
305.4 |
-40 |
-5.5 |
||
Zhangjiagang,Jiangsu |
2,330 |
324.2 |
0 |
0.0 |
||
Jinan,Shandong |
2,340 |
325.5 |
30 |
4.2 |
||
Average |
2,292 |
318.9 |
-11 |
-1.5 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices in the Chinese domestic market have edged down slightly in some regions amid slack demand from downstream users. Scrap resources arriving at steelmakers’ side have been at relatively high levels, thereby part of steel mills reduced purchasing prices for scrap, aiming to control cost. As it is approaching to the Chinese New Year (January 28-February 4), most scrap yards have been unwilling to replenish stocks. However, the tight supply of scrap may bolster its prices to a certain degree. It is expected that scrap prices in the Chinese domestic market may continue the slow downtrend in the coming week.
The latest tradable ex-Japan HS scrap prices have remained stable at $310-340/mt CFR.
$1 = RMB 7.1868
