Average scrap prices in the Chinese domestic market have edged down slightly compared to the prices recorded on June 17.
Average domestic HMS scrap prices in China are at RMB 2,164/mt ($317.2/mt) ex-warehouse, indicating a slight decrease on average compared to June 17, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,195 | 321.8 | 0 | -0.5 |
| Liupanshui, Guizhou | 2,065 | 302.8 | 0 | -0.4 | ||
| Nanchang, Jiangxi | 2,150 | 315.2 | -25 | -4.1 | ||
| Handan, Hebei | 2,185 | 320.4 | -10 | -1.9 | ||
| Anyang, Henan | 2,215 | 324.8 | 0 | -0.5 | ||
| Zhangjiagang, Jiangsu | 2,195 | 321.8 | -40 | -6.3 | ||
| Jinan, Shandong | 2,140 | 313.8 | -10 | -1.9 | ||
| Average | 2,164 | 317.2 | -12 | -2.2 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, average scrap prices in the Chinese domestic market have seen slight declines amid the prevailing bearish sentiments among market players. Ferrous metals futures prices have moved down, weakening market sentiments. Meanwhile, the ongoing plum rainy season in southern and eastern China has negatively affected the demand for steel, in turn exerting a negative impact on the demand for scrap. However, the tight supply of scrap may bolster prices to a certain degree. It is thought that scrap prices in the Chinese domestic market will likely soften in the coming week.
$1 = RMB 6.8195
