Average scrap prices in the Chinese domestic market have edged up slightly compared to the prices recorded on April 29.
Average domestic HMS scrap prices in China are at RMB 2,189/mt ($319.2/mt) ex-warehouse, increasing by RMB 11/mt on average compared to April 29, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,195 | 320.2 | +20 | +3.1 |
| Liupanshui, Guizhou | 2,075 | 302.7 | 0 | +0.1 | ||
| Nanchang, Jiangxi | 2,205 | 321.6 | +20 | +3.1 | ||
| Handan, Hebei | 2,205 | 321.6 | +10 | +1.6 | ||
| Anyang, Henan | 2,195 | 320.2 | 0 | +0.1 | ||
| Zhangjiagang, Jiangsu | 2,225 | 324.5 | 0 | +0.1 | ||
| Jinan, Shandong | 2,220 | 323.8 | +30 | +4.5 | ||
| Average | 2,189 | 319.2 | +11 | +1.8 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, average scrap prices in the Chinese domestic market have seen slight rises amid reduced circulation of scrap supplies. The relatively low inventories of scrap have bolstered prices to a certain degree. Meanwhile, most steelmakers have maintained steady production activities, resulting in stable scrap consumption. Following the Labor Day holiday (May 1-5), stock replenishments are expected to provide support for scrap prices. It is thought that scrap prices in the Chinese domestic market will again edge up slightly in the coming week.
$1 = RMB 6.8562
