Average scrap prices in the Chinese domestic market have seen slight increases compared to the prices recorded on September 10.
Average domestic HMS scrap prices in China are at RMB 2,204/mt ex-warehouse, edging up by RMB 9/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 | 316.1 | 0 | -0.1 |
| Liupanshui,Guizhou | 2,065 | 290.7 | -20 | -2.9 | ||
| Nanchang,Jiangxi | 2,150 | 302.7 | 0 | -0.1 | ||
| Handan,Hebei | 2,310 | 325.2 | 10 | 1.3 | ||
| Anyang,Henan | 2,265 | 318.9 | 20 | 2.7 | ||
| Zhangjiagang,Jiangsu | 2,190 | 308.3 | 50 | 7.0 | ||
| Jinan,Shandong | 2,205 | 310.4 | 0 | -0.1 | ||
| Average | 2,204 | 310.3 | 9 | 1.1 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
The tight supply in the scrap market has bolstered prices to a certain degree. Market players are still optimistic as regards the future prospects for the scrap market due to the traditional peak season in September, which will exert a positive impact on prices. Moreover, on September 16, major Chinese steelmaker Shagang Group announced a RMB 50/mt ($7/mt) rise in its scrap purchase price, positively affecting market sentiments. It is thought that scrap prices in the Chinese domestic market will indicate a further slight increase in the coming week.
$1 = RMB 7.1013