As of September 18, steel scrap prices in the Chinese domestic market have mostly increased week on week, with some prices also moving sideways, 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.
At the beginning of the given week, due to rumors concerning an easing of production restrictions, finished steel prices in China moved down, while participants in the scrap market started to maintain a wait-and-see stance. After the Ministry of Ecology and Environment refuted the rumors, sentiment in the scrap market improved and scrap prices moved up. It is expected that scrap prices in the Chinese domestic market will increase further in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,810 |
409 |
0 |
|
Liupanshui |
2,610 |
380 |
0 |
||
|
Zhangjiagang |
2,785 |
405 |
↑15 |
||
|
Handan |
2,685 |
391 |
↑70 |
||
|
Nanchang |
2,870 |
418 |
0 |
||
|
Anyang |
2,495 |
363 |
↑25 |
||
|
Jinan |
2,715 |
395 |
↑60 |
||
|
Average |
2,710 |
394 |
↑24 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.87