As of August 13, steel scrap prices in the Chinese domestic market have moved on an overall downtrend, compared to the previous week. Average scrap prices in China’s main markets are presented in the following table.
During the given week, finished steel prices in the Chinese domestic market have moved down, steelmakers cut their production due to shrinking profitability, resulting in lower scrap usage and negatively affected the scrap prices. Meanwhile, demand for scrap has been slack in current hot weather. However, typhoon Lekima hit China in last weekend, exerting a negative impact on scrap circulation in the market, which will cause the supply shortage in scrap market and bolster scrap prices in the near future. It is expected that scrap prices in the Chinese domestic market will soften, while the decreasing pace will slow down in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,780 |
396 |
↓30 |
|
Liupanshui |
2,580 |
368 |
↓80 |
||
|
Zhangjiagang |
2,655 |
378 |
↓135 |
||
|
Handan |
2,710 |
386 |
↓70 |
||
|
Nanchang |
2,520 |
359 |
↓70 |
||
|
Anyang |
2,645 |
377 |
↓75 |
||
|
Jinan |
2,710 |
386 |
↓130 |
||
|
Average |
2,657 |
379 |
↓84 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 7.02