As of October 9, steel scrap prices in the Chinese domestic market have mostly increased week on week, with some prices also seeing slight decreases, 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, scrap prices have seen slight rises in most regions compared to pre-holiday levels. There are still some shortages of scrap after the holiday, providing a certain degree of support for scrap prices. Meanwhile, ferrous metal futures prices in China have moved up in the first two trading days after the holiday. It is expected that scrap prices in the Chinese market will likely move up further in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,840 |
410 |
↑30 |
|
Liupanshui |
2,610 |
377 |
↓20 |
||
|
Zhangjiagang |
2,795 |
404 |
↑10 |
||
|
Handan |
2,800 |
405 |
↑80 |
||
|
Nanchang |
2,900 |
419 |
↑30 |
||
|
Anyang |
2,520 |
364 |
0 |
||
|
Jinan |
2,670 |
386 |
↓30 |
||
|
Average |
2,734 |
395 |
↑16 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.92