Scrap prices in the Chinese domestic market have moved down slightly on average compared to the prices recorded on November 13, but in general the mood has been relatively stable, with slow demand and some increase seen in steel futures prices.
Average domestic HMS scrap prices in China are at RMB 2,278/mt ex-warehouse, decreasing by RMB 24/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 |
2,450 |
340.7 |
40 |
5.7 |
Liupanshui,Guizhou |
2,185 |
303.9 |
-30 |
-4.1 |
||
Nanchang,Jiangxi |
2,200 |
305.9 |
-25 |
-3.4 |
||
Handan,Hebei |
2,340 |
325.4 |
-10 |
-1.3 |
||
Anyang,Henan |
2,245 |
312.2 |
-65 |
-8.9 |
||
Zhangjiagang,Jiangsu |
2,290 |
318.5 |
-40 |
-5.5 |
||
Jinan,Shandong |
2,235 |
310.8 |
-35 |
-4.8 |
||
Average |
2,278 |
316.8 |
-24 |
-3.2 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices in the Chinese domestic market have fluctuated within a limited range amid the prevailing cautious sentiments. Supply has been relatively slow, but the market has been rather balanced given the limited demand. It is thought that scrap prices in the Chinese domestic market will likely move sideways in the coming week.
The latest ex-Japan HS scrap tradable prices are stable on average, but the range has widened by $5/mt to $320-340/mt CFR.
$1 = RMB 7.1935