Average scrap prices in the Chinese domestic market have mainly moved sideways over the past week, though edging up slightly in some regions compared to the prices recorded on December 3 amid a slowdown in supply, though demand has been poor too.
Average domestic HMS scrap prices in China are at RMB 2,131/mt ex-warehouse, increasing by RMB 4/mt on average compared to December 3, 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 | 2,225 | 314.4 | 0 | 0.1 |
| Liupanshui,Guizhou | 1,960 | 277.0 | 0 | 0.1 | ||
| Nanchang,Jiangxi | 2,120 | 299.6 | 20 | 2.9 | ||
| Handan,Hebei | 2,160 | 305.2 | 0 | 0.1 | ||
| Anyang,Henan | 2,160 | 305.2 | 0 | 0.1 | ||
| Zhangjiagang,Jiangsu | 2,140 | 302.4 | 0 | 0.1 | ||
| Jinan,Shandong | 2,150 | 303.8 | 10 | 1.5 | ||
| Average | 2,131 | 301.1 | 4 | 0.7 | ||
| 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 sideways, while indicating slight rises in some regions. Deliveries of scrap supplies have declined in the given week, bolstering prices to a certain degree. However, consumption has also decreased, negatively affecting market sentiments. Demand for finished steel is slack during the traditional cold winter offseason, weakening the support for scrap prices. It is thought that scrap prices in the Chinese domestic market will move sideways in the coming week.
$1 = RMB 7.0753
