Average scrap prices in the Chinese domestic market have seen slight rises compared to the prices recorded on February 26.
Average domestic HMS scrap prices in China are at RMB 2,241/mt ex-warehouse, increasing by RMB 8/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 | 2,370 | 330.4 | -20 | -2.8 |
| Liupanshui,Guizhou | 2,175 | 303.2 | -20 | -2.8 | ||
| Nanchang,Jiangxi | 2,140 | 298.3 | 0 | 0.0 | ||
| Handan,Hebei | 2,330 | 324.8 | -10 | -1.4 | ||
| Anyang,Henan | 2,245 | 312.9 | 30 | 4.1 | ||
| Zhangjiagang,Jiangsu | 2,195 | 306.0 | 0 | 0.0 | ||
| Jinan,Shandong | 2,235 | 311.5 | 75 | 10.4 | ||
| Average | 2,241 | 312.4 | 8 | 1.1 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have edged up slightly amid the limited supplies arriving in the market. Demand for steel has improved slowly, weakening the support for scrap prices. Following China’s Two Sessions meetings, scrap prices will be bolstered to a certain degree. It is expected that scrap prices in the Chinese domestic market will fluctuate within a limited range in the coming week, while market players are mostly cautiously optimistic.
$1 = RMB 7.1714
