Average scrap prices in the Chinese domestic market have edged up very slightly compared to the prices recorded on February 5 amid the slow revival of trading activity.
Average domestic HMS scrap prices in China are at RMB 2,257/mt ex-warehouse, increasing by RMB 11/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 scrap |
> 6 mm | Tianjin | 2,410 | 336.0 | 20 | +2.6 |
| Liupanshui, Guizhou | 2,185 | 304.7 | 0 | -0.1 | ||
| Nanchang, Jiangxi | 2,180 | 304.0 | 15 | +2.0 | ||
| Handan, Hebei | 2,360 | 329.1 | 20 | +2.7 | ||
| Anyang, Henan | 2,215 | 308.8 | 25 | +3.4 | ||
| Zhangjiagang, Jiangsu | 2,215 | 308.8 | 0 | -0.1 | ||
| Jinan, Shandong | 2,235 | 311.6 | 0 | -0.1 | ||
| Average | 2,257 | 314.7 | 11 | +1.5 | ||
| 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, while transaction activities have been at relatively low levels. Steelmakers’ stocks ahead of the Chinese New Year holiday were quite sufficient, but they now need to replenish their scrap stocks following consumption during the long holiday. It is expected that scrap prices in the Chinese domestic market will edge up in the coming week.
The latest tradable ex-Japan HS scrap price has remained at $300-330/mt CFR.
$1 = RMB 7.171