Average scrap prices in the Chinese domestic market have remained almost stable compared to the prices recorded on April 30 and the outlook is also rather firm, with hopes for some improvement later in May.
Average domestic HMS scrap prices in China are at RMB 2,180/mt ex-warehouse, edging down by just RMB 1/mt ($0.14/mt) on average compared to the previous week, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,275 | 315.9 | -10 | -1.3 |
| Liupanshui,Guizhou | 2,110 | 293.0 | 0 | 0.1 | ||
| Nanchang,Jiangxi | 2,130 | 295.8 | 0 | 0.1 | ||
| Handan,Hebei | 2,265 | 314.5 | 0 | 0.1 | ||
| Anyang,Henan | 2,180 | 302.7 | 0 | 0.1 | ||
| Zhangjiagang,Jiangsu | 2,180 | 302.7 | 0 | 0.1 | ||
| Jinan,Shandong | 2,120 | 294.4 | 0 | 0.1 | ||
| Average | 2,180 | 302.7 | -1 | -0.1 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, scrap prices in the Chinese domestic market have mostly remained stable amid relatively low inventory levels. Meanwhile, the supply of scrap has been tight, bolstering prices to a certain degree. Cautious sentiments have prevailed among market players, which will likely result in a fluctuating trend of scrap prices in the Chinese domestic market in the coming week.
$1 = RMB 7.2005