Average scrap prices in the Chinese domestic market have continued a slow downtrend compared to the prices recorded on April 9.
Average domestic HMS scrap prices in China are at RMB 2,149/mt ex-warehouse, moving down by RMB 13/mt ($1.8/mt) on average compared to previous week, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,255 | 312.8 | -25 | -3.7 |
| Liupanshui,Guizhou | 2,070 | 287.1 | 20 | 2.5 | ||
| Nanchang,Jiangxi | 2,080 | 288.5 | -30 | -4.4 | ||
| Handan,Hebei | 2,265 | 314.1 | 20 | 2.5 | ||
| Anyang,Henan | 2,120 | 294.0 | -30 | -4.4 | ||
| Zhangjiagang,Jiangsu | 2,150 | 298.2 | -25 | -3.7 | ||
| Jinan,Shandong | 2,100 | 291.3 | -20 | -3.0 | ||
| Average | 2,149 | 298.0 | -13 | -2.0 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have softened again. The White House website states, “China now faces tariffs of up to 245 percent on imports into the US”, which has exerted a negative impact on sentiments in the scrap market. Chinese steelmakers’ profitability has declined, making them more cautious as regards purchasing raw materials since they want to reduce production costs. Scrap prices have been under downward pressure accordingly. Since the tariff issue between the US and China has not been eased yet, scrap prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
$1 = RMB 7.2133