Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the prices recorded on November 20, which is in line with expectations, against the backdrop of worsening demand and the lack of strength of supply.
Average domestic HMS scrap prices in China are at RMB 2,279/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 |
2,440 |
339.3 |
-10 |
-1.4 |
Liupanshui,Guizhou |
2,185 |
303.9 |
0 |
0.0 |
||
Nanchang,Jiangxi |
2,160 |
300.4 |
-40 |
-5.6 |
||
Handan,Hebei |
2,370 |
329.6 |
30 |
4.2 |
||
Anyang,Henan |
2,270 |
315.7 |
25 |
3.5 |
||
Zhangjiagang,Jiangsu |
2,290 |
318.5 |
0 |
0.0 |
||
Jinan,Shandong |
2,235 |
310.8 |
0 |
0.0 |
||
Average |
2,279 |
316.9 |
1 |
0.1 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
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During the given week, scrap prices in the Chinese domestic market have fluctuated within a limited range amid relatively low inventory levels. Following slight rises, finished steel prices have edged down, exerting a negative impact on scrap prices. The supply of scrap has not been at high levels, bolstering prices to a certain degree. It is expected that scrap prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
The latest ex-Japan HS scrap tradable prices have remained at $320-340/mt CFR.
$1 = RMB 7.1982