Average scrap prices in the Chinese domestic market have edged up slightly compared to the prices recorded on January 21.
Average domestic HMS scrap prices in China are at RMB 2,156/mt ($312.5) ex-warehouse, increasing by RMB 13/mt ($1.9/mt) on average compared to January 21, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,175 | 311.3 | 10 | 2.1 |
| Liupanshui,Guizhou | 2,035 | 291.3 | 0 | 0.6 | ||
| Nanchang,Jiangxi | 2,150 | 307.8 | 20 | 3.5 | ||
| Handan,Hebei | 2,195 | 314.2 | 10 | 2.1 | ||
| Anyang,Henan | 2,185 | 312.8 | 20 | 3.5 | ||
| Zhangjiagang,Jiangsu | 2,195 | 314.2 | 20 | 3.5 | ||
| Jinan,Shandong | 2,160 | 309.2 | 10 | 2.1 | ||
| Average | 2,156 | 308.7 | 13 | 2.5 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have seen slight rises amid tight supply. There has been limited scrap supply entering the spot market, bolstering prices to a certain degree. Demand for finished steel has been slack since the Chinese New Year holiday (February 14-23) is approaching, negatively affecting the scrap market. However, inventories of scrap on the steelmakers’ side have been at relatively low levels, which might provide support for prices. It is expected that scrap prices in the Chinese domestic market will continue to indicate slight rises in the coming week.
$1 = RMB 6.9755