Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the prices recorded on March 18.
Average domestic HMS scrap prices in China are at RMB 2,204/mt ($319.7/mt) ex-warehouse, remaining stable on average compared to March 18, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,245 | 325.6 | 10 | 1.5 |
| Liupanshui,Guizhou | 2,075 | 301.0 | 0 | 0.1 | ||
| Nanchang,Jiangxi | 2,205 | 319.8 | 10 | 1.5 | ||
| Handan,Hebei | 2,225 | 322.7 | 0 | 0.1 | ||
| Anyang,Henan | 2,215 | 321.3 | 0 | 0.1 | ||
| Zhangjiagang,Jiangsu | 2,255 | 327.1 | -10 | -1.4 | ||
| Jinan,Shandong | 2,210 | 320.6 | -10 | -1.4 | ||
| Average | 2,204 | 319.7 | 0 | 0.1 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have fluctuated within a limited range. Since delivery of scrap supplies arriving at processing centers has been limited, the processing centers have been willing to raise their scrap purchase prices. Rebar and wire rod prices have moved up, exerting a positive impact on scrap prices. It is thought that scrap prices in the Chinese domestic market will edge up slightly in the coming week.
$1 = RMB 6.8911
