Average scrap prices in the Chinese domestic market have edged down slightly compared to the prices recorded two weeks ago.
Average domestic HMS scrap prices in China are at RMB 2,246/mt ex-warehouse, decreasing by RMB 9/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 ($/mt) | 2 Weeks change (RMB/mt) | 2 Weeks change ($/mt) |
| HMS | > 6 mm | Tianjin | 2,390 | 333.4 | 0 | 0.0 |
| Liupanshui, Guizhou | 2,185 | 304.8 | 0 | 0.0 | ||
| Nanchang, Jiangxi | 2,165 | 302.0 | 0 | 0.0 | ||
| Handan, Hebei | 2,340 | 326.4 | 0 | 0.0 | ||
| Anyang, Henan | 2,190 | 305.5 | 0 | 0.0 | ||
| Zhangjiagang, Jiangsu | 2,215 | 309.0 | -10 | -1.4 | ||
| Jinan, Shandong | 2,235 | 311.8 | -50 | -6.9 | ||
| Average | 2,246 | 313.3 | -9 | -1.2 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
Scrap prices in the Chinese domestic market have seen slight declines amid bearish sentiments affected by the imposition by the US of tariffs on some Chinese products. There are uncertainties in the Chinese ferrous metals markets, which will exert a negative impact on scrap prices. Since most market players may return to the market only after the Lantern Festival (February 12), demand for scrap will improve slowly only after some time, which will also negatively affect the market. It is expected that scrap prices in the Chinese domestic market will edge down further in the short term.
The latest ex-Japan HS scrap tradable levels are at $300-330/mt CFR.
$1 = RMB 7.1693