Average scrap prices in the Chinese domestic market have moved on a downtrend compared to the prices recorded on October 30.
Average domestic HMS scrap prices in China are at RMB 2,300/mt ex-warehouse, decreasing by RMB 28/mt on average compared to the 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 |
Price |
Weekly change |
Weekly change |
HMS scrap |
> 6 mm |
Tianjin |
2,400 |
337.9 |
+30 |
+5.4 |
Liupanshui, Guizhou |
2,215 |
311.9 |
-30 |
-3.1 |
||
Nanchang, Jiangxi |
2,235 |
314.7 |
-45 |
-5.2 |
||
Handan, Hebei |
2,340 |
329.5 |
-20 |
-1.6 |
||
Anyang, Henan |
2,280 |
321.0 |
-20 |
-1.6 |
||
Zhangjiagang, Jiangsu |
2,320 |
326.7 |
-10 |
-0.2 |
||
Jinan, Shandong |
2,310 |
325.3 |
-100 |
-12.8 |
||
Average |
2,300 |
323.9 |
-28 |
-2.7 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices in the Chinese domestic market have moved down amid the imbalance between supply and demand. Cautious sentiments have prevailed among market players, exerting a negative impact on scrap prices. At the same time, the colder weather has reduced the demand from downstream users. However, some market players are expecting a package of stimulus measures to emerge from the important economic meeting held in Beijing this week, bolstering market sentiments to a certain degree. It is thought that scrap prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
The latest ex-Japan HS scrap tradable prices have remained stable at $325-335/mt CFR.
$1 = RMB 7.0993