Average scrap prices in the Chinese domestic market have mostly moved sideways compared to the prices recorded on April 8.
Average domestic HMS scrap prices in China are at RMB 2,193/mt ($319.7/mt) ex-warehouse, decreasing by RMB 1/mt on average compared to April 8, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS
|
> 6 mm
|
Tianjin | 2,205 | 321.5 | 0 | 1.2 |
| Liupanshui,Guizhou | 2,075 | 302.5 | 0 | 1.1 | ||
| Nanchang,Jiangxi | 2,225 | 324.4 | 0 | 1.2 | ||
| Handan,Hebei | 2,215 | 322.9 | 0 | 1.2 | ||
| Anyang,Henan | 2,195 | 320.0 | 0 | 1.2 | ||
| Zhangjiagang,Jiangsu | 2,245 | 327.3 | 0 | 1.2 | ||
| Jinan,Shandong | 2,190 | 319.3 | -10 | -0.2 | ||
| Average | 2,193 | 319.7 | -1 | 1.0 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have mostly remained stable, though indicating slight declines in Jina in Shandong Province. Scrap supplies arriving in the market have increased slightly in the given week, while inventories have risen somewhat, limiting the further upward movement of prices. Ferrous metal futures prices have indicated slight decreases in the given week, exerting a negative impact on the scrap market. Lately, declining iron ore prices have increased the cost advantage of molten iron production as compared to scrap steel. It is thought that scrap prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
$1 = RMB 6.8582
