Average scrap prices in the Chinese domestic market have edged up slightly compared to the prices recorded on July 15.
Average domestic HMS scrap prices in China are at RMB 2,128/mt ($313/mt) ex-warehouse, indicating a rise of RMB 6/mt on average compared to July 15, according to SteelOrbis' information.
Average scrap prices in China's main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS |
> 6 mm | Tianjin | 2,185 | 321.7 | +20 | +2.9 |
| Liupanshui, Guizhou | 2,025 | 298.1 | 0 | -0.1 | ||
| Nanchang, Jiangxi | 2,110 | 310.6 | 0 | -0.1 | ||
| Handan, Hebei | 2,175 | 320.2 | +10 | +1.4 | ||
| Anyang, Henan | 2,175 | 320.2 | 0 | -0.1 | ||
| Zhangjiagang, Jiangsu | 2,130 | 313.6 | 0 | -0.1 | ||
| Jinan, Shandong | 2,095 | 308.4 | +10 | +1.4 | ||
| Average | 2,128 | 313.2 | +6 | +0.7 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, average scrap prices in the Chinese domestic market have seen slight rises amid relatively firm coke prices. The cost-effectiveness of scrap relative to molten iron has emerged gradually, prompting steel mills to become more inclined to use scrap, bolstering the demand for scrap. Meanwhile, scrap supplies arriving in the market have declined significantly, resulting in decreasing inventories of scrap. Some steelmakers have raised their scrap purchase prices, aiming to attract more supplies. It is expected that scrap prices in the Chinese domestic market will move sideways or rebound slightly in the coming week.
$1 = RMB 6.7933
