Average scrap prices in the Chinese domestic market have seen slight rises compared to the prices recorded on July 9 even though overall consumption levels are reduced.
Average domestic HMS scrap prices in China are at RMB 2,182/mt ex-warehouse, edging up by RMB 16/mt ($2.2/mt) on average compared to the previous week, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,285 | 319.6 | 20 | 2.9 |
| Liupanshui,Guizhou | 2,040 | 285.3 | 0 | 0.1 | ||
| Nanchang,Jiangxi | 2,100 | 293.7 | 30 | 4.3 | ||
| Handan,Hebei | 2,265 | 316.8 | 10 | 1.5 | ||
| Anyang,Henan | 2,180 | 304.9 | 20 | 2.9 | ||
| Zhangjiagang,Jiangsu | 2,170 | 303.5 | 10 | 1.5 | ||
| Jinan,Shandong | 2,235 | 312.6 | 20 | 2.9 | ||
| Average | 2,182 | 305.2 | 16 | 2.3 | ||
| 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 increasing ferrous metal futures prices. Lately, finished steel prices have risen, bolstering scrap prices firmly. There have been fewer supplies arriving in the market, providing support for scrap prices. It is expected that scrap prices in the Chinese domestic market will continue their uptrend in the coming week.
$1 = RMB 7.1541