During the week ending April 16, steel scrap prices in the Chinese domestic market have continued their increasing trend, while transaction activity in the overall market has been at medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, major Chinese steelmaker Shagang Group has raised its purchase prices for scrap, exerting a positive impact on scrap prices in the spot market. Mainstream steelmakers’ scrap inventories have decreased and so they will need to step up their scrap purchases. Meanwhile, finished steel prices have increased, which will provide support for scrap prices. It is expected that scrap prices in the Chinese market will continue to rise in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,710 |
404 |
↑10 |
|
Liupanshui |
2,540 |
379 |
↑10 |
||
|
Zhangjiagang |
2,710 |
404 |
↑40 |
||
|
Handan |
2,650 |
395 |
0 |
||
|
Nanchang |
2,580 |
385 |
↑40 |
||
|
Anyang |
2,510 |
374 |
↑50 |
||
|
Jinan |
2,700 |
402 |
↑30 |
||
|
Average |
2,629 |
392 |
↑26 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.71