SteelOrbis Shanghai
In spite of the slight price fluctuation in the
construction steel market, Chinese
scrap market prices remained stable throughout week 46. On November 16, heavy melting
scrap prices in Zhangjiagang were constant at RMB 2,000/mt ($245/mt), while those in Alashankou were also steady at RMB 1'810/mt ($230).
Following the price trend of finished steel, the purchasing prices of heavy
scrap by steel mills also saw a downward tendency. At present, the purchase prices of heavy melting
scrap in Jiangsu Province are in RMB 2,000-2,100/mt ($254-267) range. Looking at the major mills in this province, the heavy melting
scrap purchase prices of
Shagang are at RMB 2,010/mt ($246), while those of Xingcheng Steel and some other steel mills are at RMB 2,060/mt ($262). Jiangsu Yonggang and Xicheng Steel took the initiative in lowering their heavy melting
scrap purchasing prices by about RMB 20-40/mt ($3-5).
The mainstream prices of heavy melting
scrap in the southwestern and northwestern regions are at RMB 1,900-2,000/mt ($241-254), those in Alashankou are steady at RMB 1,810/mt ($230) due to bearish commercial activity. The prices of imported heavy melting
scrap also saw stable movement with the price for Japanese imports at $285/mt CIF
China.
Since the overall steel market is on a downward trend, heavy
scrap prices are also expected to see a slight decrease over the next week.