Average domestic HMS scrap prices in China are at RMB 2,159/mt ($311/mt) ex-warehouse, remaining stable on average compared to February 11, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,150 | 309.8 | 0 | 0.2 |
| Liupanshui,Guizhou | 2,055 | 296.1 | 0 | 0.2 | ||
| Nanchang,Jiangxi | 2,150 | 309.8 | 0 | 0.2 | ||
| Handan,Hebei | 2,185 | 314.8 | 0 | 0.2 | ||
| Anyang,Henan | 2,185 | 314.8 | 0 | 0.2 | ||
| Zhangjiagang,Jiangsu | 2,225 | 320.6 | 0 | 0.2 | ||
| Jinan,Shandong | 2,160 | 311.2 | 0 | 0.2 | ||
| Average | 2,159 | 311.0 | 0 | 0.2 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have moved sideways due to the Chinese New Year holiday (February 14-23). Scrap processing bases will gradually resume operations after the long holiday, while steel mills will also be more active in purchases, which will bolster trading and provide solid support for scrap prices. However, it will take some time for the market to recover amid the relatively high inventories observed currently. It is expected that scrap prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
$1 = RMB 6.9321
