Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the prices recorded on December 4.
Average domestic HMS scrap prices in China are at RMB 2,289/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 |
> 6 mm |
Tianjin |
2,460 |
342.1 |
0 |
0.5 |
Liupanshui, Guizhou |
2,185 |
303.9 |
0 |
0.4 |
||
Nanchang, Jiangxi |
2,190 |
304.6 |
0 |
0.4 |
||
Handan, Hebei |
2,360 |
328.2 |
-10 |
-0.9 |
||
Anyang, Henan |
2,235 |
310.8 |
0 |
0.4 |
||
Zhangjiagang, Jiangsu |
2,340 |
325.5 |
0 |
0.5 |
||
Jinan, Shandong |
2,255 |
313.6 |
20 |
3.2 |
||
Average |
2,289 |
318.4 |
1 |
0.6 |
||
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 continued to fluctuate within a limited range. Demand for finished steel has slackened during the traditional offseason. Steel producers’ profitability has shrunk, weakening the support for finished steel prices. Cautious sentiments have prevailed among market players and so they have not been building up high inventories of scrap for the winter. Recently, the supply of scrap to the spot market has decreased, which will bolster prices to a certain degree. It is thought that scrap prices in the Chinese domestic market may see slight changes in the coming week.
The latest tradable ex-Japan HS scrap prices have remained at $310-340/mt CFR.
$1 = RMB 7.1843
