Average scrap prices in the Chinese domestic market have edged down slightly compared to the prices recorded on December 10 as demand has been slow and prices of other raw materials have also been declining.
Average domestic HMS scrap prices in China are at RMB 2,129/mt ex-warehouse, decreasing by RMB 2/mt on average compared to December 10, 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 | 310.9 | -30 | -3.5 |
| Liupanshui,Guizhou | 1,950 | 276.2 | -10 | -0.7 | ||
| Nanchang,Jiangxi | 2,110 | 298.9 | -10 | -0.7 | ||
| Handan,Hebei | 2,170 | 307.4 | 10 | 2.2 | ||
| Anyang,Henan | 2,160 | 305.9 | 0 | 0.7 | ||
| Zhangjiagang,Jiangsu | 2,165 | 306.7 | 25 | 4.3 | ||
| Jinan,Shandong | 2,150 | 304.5 | 0 | 0.7 | ||
| Average | 2,129 | 301.5 | -2 | 0.4 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have edged down slightly amid the slack demand from downstream users during the traditional cold winter offseason. Prices of other raw materials, including coking coal and coke, have also seen declines, negatively affecting market sentiments. Some steelmakers had built up stocks of scrap previously and so are unwilling to buy scrap currently. It is expected that scrap prices in the Chinese domestic market will soften further in the coming week.
$1 = RMB 7.0573
