As of January 14, average scrap prices in the Chinese domestic market have edged up slightly compared to the prices recorded on January 7.
Average domestic HMS scrap prices in China are at RMB 2,141/mt ($305/mt) ex-warehouse, increasing by RMB 11/mt ($1.6/mt) on average compared to January 7, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,165 | 308.8 | -10 | -1.1 |
| Liupanshui, Guizhou | 2,010 | 286.7 | +20 | +3.1 | ||
| Nanchang, Jiangxi | 2,130 | 303.9 | 0 | +0.3 | ||
| Handan, Hebei | 2,195 | 313.1 | +10 | +1.7 | ||
| Anyang, Henan | 2,165 | 308.8 | +25 | +3.9 | ||
| Zhangjiagang, Jiangsu | 2,175 | 310.3 | +35 | +5.3 | ||
| Jinan, Shandong | 2,150 | 306.7 | 0 | +0.3 | ||
| Average | 2,141 | 305.5 | +11 | +1.9 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have edged up slightly amid decreasing deliveries to the market. However, some steelmakers have implemented maintenance works on their equipment, exerting a negative impact on the demand for scrap. Both the supply and demand of scrap have decreased, resulting in a fluctuating trend within a limited range of prices. Currently, demand for finished steel is sluggish, negatively affecting finished steel prices, which may also weaken the support for scrap prices. It is expected that scrap prices in the Chinese domestic market will move sideways in the coming week.
$1 = RMB 7.012
