Average scrap prices in the Chinese domestic market have edged down compared to the prices recorded on May 20.
Average domestic HMS scrap prices in China are at RMB 2,183/mt ($320/mt) ex-warehouse, decreasing by RMB 7/mt on average compared to May 20, 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
|
> 6 mm
|
Tianjin |
2,195 |
321.4 |
-10 |
-0.9 |
Liupanshui,Guizhou |
2,075 |
303.9 |
-10 |
-1.0 |
||
Nanchang,Jiangxi |
2,195 |
321.4 |
10 |
2.0 |
||
Handan,Hebei |
2,205 |
322.9 |
0 |
0.5 |
||
Anyang,Henan |
2,215 |
324.4 |
0 |
0.5 |
||
Zhangjiagang,Jiangsu |
2,225 |
325.8 |
0 |
0.5 |
||
Jinan,Shandong |
2,170 |
317.8 |
-40 |
-5.3 |
||
Average |
2,183 |
319.6 |
-7 |
-0.5 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, average scrap prices in the Chinese domestic market have fluctuated within a limited range amid the decreasing ferrous metal futures prices. Most steelmakers have been on the edge of profit to loss, shrinking the cost-effectiveness advantage of scrap relative to pig iron. Meanwhile, most steel mills have been in state of tight equilibrium between scrap arrivals and consumption, resulting in the prevailing cautious sentiments among market players. It is expected that scrap prices in the Chinese domestic market will likely edge down slightly in the coming week.
$1 = RMB 6.8291
