Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the prices recorded on November 6, with no change on the supply side, while demand has remained moderate.
Average domestic HMS scrap prices in China are at RMB 2,301/mt ex-warehouse, increasing by RMB 1/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 |
Price |
Weekly change |
Weekly change |
HMS scrap |
> 6 mm |
Tianjin |
2,410 |
335.0 |
10 |
-2.9 |
Liupanshui,Guizhou |
2,215 |
307.9 |
0 |
-3.9 |
||
Nanchang,Jiangxi |
2,225 |
309.3 |
-10 |
-5.4 |
||
Handan,Hebei |
2,350 |
326.7 |
10 |
-2.8 |
||
Anyang,Henan |
2,310 |
321.1 |
30 |
0.1 |
||
Zhangjiagang,Jiangsu |
2,330 |
323.9 |
10 |
-2.7 |
||
Jinan,Shandong |
2,270 |
315.6 |
-40 |
-9.7 |
||
Average |
2,301 |
320.0 |
1 |
-3.9 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices in the Chinese domestic market have fluctuated within a limited range amid the prevailing cautious sentiments. Some large scrap processing sites have adopted a fast-in and fast-out strategy, aiming to keep relatively low inventory levels and avoid potential risks. Some processing sites have been unwilling to build up stocks for the winter, weakening the support for scrap prices. It is thought that scrap prices in the Chinese domestic market will likely move sideways in the coming week.
The latest ex-Japan HS scrap tradable prices are stable week on week at $325-335/mt CFR.
$1 = RMB 7.1991