Average scrap prices in the Chinese domestic market have moved down compared to the prices recorded on July 30 despite some slower supply and the increasing production rates of EAFs.
Average domestic HMS scrap prices in China are at RMB 2,194/mt ex-warehouse, edging down by RMB 23/mt 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 (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,245 | 314.6 | -30 | -3.5 |
| Liupanshui, Guizhou | 2,030 | 284.4 | -40 | -5.0 | ||
| Nanchang, Jiangxi | 2,130 | 298.4 | -10 | -0.8 | ||
| Handan, Hebei | 2,280 | 319.5 | -30 | -3.5 | ||
| Anyang, Henan | 2,245 | 314.6 | -20 | -2.1 | ||
| Zhangjiagang, Jiangsu | 2,205 | 309.0 | -10 | -0.8 | ||
| Jinan, Shandong | 2,225 | 311.8 | -20 | -2.1 | ||
| Average | 2,194 | 307.5 | -23 | -2.6 | ||
| Note: Prices include three percent VAT as of March 1, 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have moved on a downtrend despite the increasing capacity utilization rates of electric furnaces. High temperatures in southern China and heavy rains in northern China have exerted a negative impact on the circulation of scrap supplies, bolstering prices to a certain degree. However, finished steel prices have moved down lately, weakening scrap prices. It is thought that scrap prices in the Chinese domestic market will edge down, though by a limited margin, in the coming week.
$1 = RMB 7.1409