Average scrap prices in the Chinese domestic market have edged down slightly compared to the prices recorded on April 15.
Average domestic HMS scrap prices in China are at RMB 2,181/mt ($318/mt) ex-warehouse, decreasing by RMB 11/mt on average compared to April 15, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,195 | 320.0 | -10 | -1.5 |
| Liupanshui, Guizhou | 2,075 | 302.5 | 0 | 0.0 | ||
| Nanchang, Jiangxi | 2,185 | 318.6 | -40 | -5.8 | ||
| Handan, Hebei | 2,195 | 320.0 | -20 | -2.9 | ||
| Anyang, Henan | 2,195 | 320.0 | 0 | 0.0 | ||
| Zhangjiagang, Jiangsu | 2,245 | 327.3 | 0 | 0.0 | ||
| Jinan, Shandong | 2,180 | 317.8 | -10 | -1.5 | ||
| Average | 2,181 | 318.0 | -11 | -1.7 | ||
| Note: Prices include three percent VAT as of March 1, 2022. | ||||||
During the given week, average scrap prices in the Chinese domestic market have seen slight declines as steelmakers have showed limited interest in using scrap, with scrap lacking a compelling cost advantage compared to iron ore, which has exerted a negative impact on scrap prices. Deliveries of scrap arriving at steelmakers increased first, though they decreased later, while inventories have declined compared to last week, bolstering prices to a certain degree. Since the Labor Day holiday (May 1-5) is approaching, steelmakers are expected to restock with scrap in the coming period. It is thought that scrap prices in the Chinese domestic market will likely rebound slightly in the coming week.
$1 = RMB 6.8635
