Average domestic HMS scrap prices in China are at RMB 2,184/mt ($316.7/mt) ex-warehouse, up by RMB 17/mt on average compared to March 4, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,195 | 318.2 | 25 | 4.1 |
| Liupanshui,Guizhou | 2,055 | 297.9 | 0 | 0.5 | ||
| Nanchang,Jiangxi | 2,195 | 318.2 | 45 | 7.0 | ||
| Handan,Hebei | 2,215 | 321.1 | 10 | 2.0 | ||
| Anyang,Henan | 2,185 | 316.8 | 0 | 0.5 | ||
| Zhangjiagang,Jiangsu | 2,255 | 326.9 | 30 | 4.9 | ||
| Jinan,Shandong | 2,190 | 317.5 | 10 | 2.0 | ||
| Average | 2,184 | 316.7 | 17 | 3.0 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have mostly moved up amid the improved demand from downstream users and insufficient supply to the market. On March 10, Jiangsu-based Shagang Group announced a RMB 50/mt ($7.2/mt) rise in its scrap purchase price, reflecting bullish sentiments as regards the future prospects for the scrap market. Inventories of scrap are at relatively low levels for the time of year, bolstering prices to a certain degree. It is thought that scrap prices in the Chinese domestic market will continue to edge up in the coming week.
$1 = RMB 6.8917
