Average scrap prices in the Chinese domestic market are almost unchanged compared to the prices recorded on January 28 as buyers have already left the market ahead of the long holiday.
Average domestic HMS scrap prices in China are at RMB 2,159/mt ($312.5) ex-warehouse, decreasing by RMB 2/mt ($0.3/mt) on average compared to February 4, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,150 | 309.5 | -15 | -1.5 |
| Liupanshui,Guizhou | 2,055 | 295.9 | 0 | 0.6 | ||
| Nanchang,Jiangxi | 2,150 | 309.5 | 0 | 0.7 | ||
| Handan,Hebei | 2,185 | 314.6 | 0 | 0.7 | ||
| Anyang,Henan | 2,185 | 314.6 | 0 | 0.7 | ||
| Zhangjiagang,Jiangsu | 2,225 | 320.3 | 0 | 0.7 | ||
| Jinan,Shandong | 2,160 | 311.0 | 0 | 0.7 | ||
| Average | 2,159 | 310.8 | -2 | 0.4 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have fluctuated within a limited range as most scrap processing bases are already on holiday. Since the Chinese New Year holiday (February 14-23) is about to start, demand for scrap from downstream users has been slack. The market will be quiet in the coming period. It is thought that scrap prices in the Chinese domestic market will move sideways in the coming period.
$1 = RMB 6.9438
