Average scrap prices in the Chinese domestic market have seen slight decreases compared to the prices recorded on February 12, but the outlook is rather positive as demand is expected to increase, while supply will likely remain tight in the short term.
Average domestic HMS scrap prices in China are at RMB 2,242/mt ex-warehouse, decreasing by RMB 15/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 |
Price |
Weekly change |
Weekly change |
HMS scrap |
> 6 mm |
Tianjin |
2,390 |
333.3 |
-20 |
-2.7 |
Liupanshui,Guizhou |
2,185 |
304.7 |
0 |
0.1 |
||
Nanchang,Jiangxi |
2,140 |
298.5 |
-40 |
-5.5 |
||
Handan,Hebei |
2,350 |
327.8 |
-10 |
-1.3 |
||
Anyang,Henan |
2,235 |
311.7 |
20 |
2.9 |
||
Zhangjiagang,Jiangsu |
2,215 |
308.9 |
0 |
0.1 |
||
Jinan,Shandong |
2,180 |
304.0 |
-55 |
-7.6 |
||
Average |
2,242 |
312.7 |
-15 |
-2.0 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices in the Chinese domestic market have edged down as demand from downstream users has improved very slowly even after the Lantern Festival. However, transaction activities in the scrap market have seen certain improvements, which will bolster prices soon. At the same time, supply of scrap has been tight, which will exert a positive impact on prices also. It is thought that scrap prices in the Chinese domestic market will move up in the coming week.
$1 = RMB 7.1705