Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the prices recorded on January 14, while there are no expectations of price reductions in the near term amid low supply, even though demand has also been rather limited.
Average domestic HMS scrap prices in China are at RMB 2,144/mt ($306) ex-warehouse, increasing by RMB 2/mt ($0.28/mt) on average compared to January 14, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,165 | 309.2 | 0 | +0.4 |
| Liupanshui,Guizhou | 2,035 | 290.7 | +25 | +3.9 | ||
| Nanchang,Jiangxi | 2,130 | 304.2 | 0 | +0.4 | ||
| Handan,Hebei | 2,185 | 312.1 | -10 | -1.0 | ||
| Anyang,Henan | 2,165 | 309.2 | 0 | +0.4 | ||
| Zhangjiagang,Jiangsu | 2,175 | 310.7 | 0 | +0.4 | ||
| Jinan,Shandong | 2,150 | 307.1 | 0 | +0.4 | ||
| Average | 2,144 | 306.2 | +2 | +0.7 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have mostly remained stable amid the unwillingness of recyclers to sell at lower prices. Some steelmakers have had to raise their scrap purchase prices due to decreasing deliveries. Inventories of scrap in the market have seen slight rises as demand for finished steel has been sluggish during the traditional cold winter offseason, especially with a wave of cold weather hitting China. It is thought that scrap prices in the Chinese domestic market may continue to fluctuate within a limited range in the coming week.
$1 = RMB 7.0014