Average scrap prices in the Chinese domestic market have moved sideways compared to the prices recorded on May 27.
Average domestic HMS scrap prices in China are at RMB 2,183/mt ($320/mt) ex-warehouse, moving sideways on average compared to May 27, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
| Product name | Specification | Origin | Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
HMS
|
> 6 mm
|
Tianjin | 2,195 | 321.9 | 0 | 0.5 |
| Liupanshui,Guizhou | 2,075 | 304.3 | 0 | 0.5 | ||
| Nanchang,Jiangxi | 2,195 | 321.9 | 0 | 0.5 | ||
| Handan,Hebei | 2,205 | 323.4 | 0 | 0.5 | ||
| Anyang,Henan | 2,205 | 323.4 | -10 | -0.9 | ||
| Zhangjiagang,Jiangsu | 2,235 | 327.8 | 10 | 2.0 | ||
| Jinan,Shandong | 2,170 | 318.3 | 0 | 0.5 | ||
| Average | 2,183 | 320.2 | 0 | 0.5 | ||
| Note: Prices include 3 percent VAT as of March 1 2022. | ||||||
During the given week, average scrap prices in the Chinese domestic market have fluctuated within a limited range amid increasing ferrous metal futures prices. However, demand for finished steel has been slack as the market has entered the traditional off-season in June. Meanwhile, another wave of rainy weather is going to affect China, which will exert a negative impact on the transportation of scrap. It is thought that scrap prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
$1 = RMB 6.8184
