During the week ending September 6, average prices of local steel scrap in the Chinese market have moved on a stable trend, while transaction activity in the overall market has remained at low levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, due to the declines recorded in domestic semi-finished and finished steel prices, scrap prices in the Chinese market have also come under downward pressure, though sellers have kept their prices stable as their inventories are on the low side. As steelmakers in the region around Hangzhou will resume production in the coming period following the G20 Summit, demand for scrap will improve, which will provide support for domestic scrap prices. It is expected that scrap prices in the Chinese market will continue their stable trend in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,650 |
247 |
0 |
Liupanshui |
1,580 |
237 |
0 |
||
Zhangjiagang |
1,680 |
251 |
0 |
||
Handan |
1,580 |
237 |
0 |
||
Nanchang |
1,600 |
240 |
0 |
||
Anyang |
1,570 |
235 |
0 |
||
Jinan |
1,670 |
250 |
0 |
||
Average |
1,619 |
242 |
0 |
The above prices include 17 percent VAT
$1 = RMB 6.68