Average scrap prices in the Chinese domestic market have declined slightly compared to the prices recorded on April 22.
Average domestic HMS scrap prices in China are at RMB 2,177/mt ($317.4/mt) ex-warehouse, decreasing by RMB 4/mt on average compared to April 22, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS
|
> 6 mm
|
Tianjin | 2,175 | 317.1 | -20 | -2.9 |
| Liupanshui,Guizhou | 2,075 | 302.5 | 0 | 0.0 | ||
| Nanchang,Jiangxi | 2,185 | 318.6 | 0 | 0.0 | ||
| Handan,Hebei | 2,195 | 320.0 | 0 | 0.0 | ||
| Anyang,Henan | 2,195 | 320.0 | 0 | 0.0 | ||
| Zhangjiagang,Jiangsu | 2,225 | 324.4 | -20 | -2.9 | ||
| Jinan,Shandong | 2,190 | 319.3 | 10 | 1.5 | ||
| Average | 2,177 | 317.4 | -4 | -0.6 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, average scrap prices in the Chinese domestic market have indicated slight decreases amid rising deliveries to the spot market and increasing inventories. Since scrap is still not competitive compared to iron ore prices, there has been limited improvement in steelmakers’ scrap consumption. Ahead of the Labor Day holiday (May 1-5), some steelmakers have built up stocks of scrap, helping to bolster prices. It is expected that scrap prices in the Chinese domestic market will move sideways in the coming week.
$1 = RMB 6.8608
