Average scrap prices in the Chinese domestic market have fluctuated within a limited range compared to the prices recorded on April 1.
Average domestic HMS scrap prices in China are at RMB 2,194/mt ($318.7/mt) ex-warehouse, edging down by RMB 1/mt on average compared to April 1, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS
|
> 6 mm
|
Tianjin | 2,205 | 320.3 | -30 | -2.8 |
| Liupanshui,Guizhou | 2,075 | 301.4 | 0 | +1.5 | ||
| Nanchang,Jiangxi | 2,225 | 323.2 | +20 | +4.5 | ||
| Handan,Hebei | 2,215 | 321.7 | 0 | +1.6 | ||
| Anyang,Henan | 2,195 | 318.8 | 0 | +1.6 | ||
| Zhangjiagang,Jiangsu | 2,245 | 326.1 | 0 | +1.6 | ||
| Jinan,Shandong | 2,200 | 319.5 | 0 | +1.6 | ||
| Average | 2,194 | 318.7 | -1 | +1.4 | ||
| 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 gradual improvement in demand from steelmakers. Inventories of scrap at some steelmakers have been at relatively low levels, and so stock replenishment has bolstered prices to a certain degree. However, finished steel prices have been under pressure, which has exerted a negative impact on the pace of increases in scrap prices. On April 8, due to the ceasefire in the war in the Middle East, the financial markets in China have witnessed significant rebounds, which will positively affect sentiments in the scrap market. It is thought that scrap prices in the Chinese domestic market may strengthen amid volatility in the coming week.
$1 = RMB 6.868
