Average scrap prices in the Chinese domestic market have fluctuated within a limited range in the past week compared to the prices recorded on March 26.
Average domestic HMS scrap prices in China are at RMB 2,224/mt ex-warehouse, moving sideways on average compared to the 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 |
2,360 |
328.8 |
0 |
0.0 |
Liupanshui,Guizhou |
2,120 |
295.3 |
10 |
1.4 |
||
Nanchang,Jiangxi |
2,170 |
302.3 |
40 |
5.6 |
||
Handan,Hebei |
2,310 |
321.8 |
-30 |
-4.1 |
||
Anyang,Henan |
2,185 |
304.4 |
0 |
0.0 |
||
Zhangjiagang,Jiangsu |
2,215 |
308.6 |
20 |
2.8 |
||
Jinan,Shandong |
2,205 |
307.2 |
-40 |
-5.5 |
||
Average |
2,224 |
309.8 |
0 |
0.0 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
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During the given week, scrap prices have fluctuated within a limited range. Scrap supplies arriving at steelmakers decreased and so some steelmakers raised their purchase prices, while some steelmakers cut their purchase prices amid reduced profitability. Demand for scrap has been slack, negatively affecting prices. Since cautious sentiments have prevailed among market players, most mills are keeping their scrap inventories at low levels. It is thought that scrap prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
1$ = 7.1793 RMB