During the week ending March 12, steel scrap prices in the Chinese domestic market have mostly indicated a slight softening, 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, average local steel scrap prices in the Chinese market have moved on a slight downtrend, while transaction activity has been better than in the previous week and is now at medium levels. Steelmakers’ profit margins are tight and so they have lowered their purchases prices for scrap, while the recent increases in availability of supply have also had a negatively influence on scrap prices. It is thought that scrap prices in the Chinese domestic market will likely indicate a further slight decline in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,770 |
413 |
↓50 |
|
Liupanshui |
2,470 |
368 |
0 |
||
|
Zhangjiagang |
2,740 |
408 |
↓70 |
||
|
Handan |
2,640 |
393 |
↓45 |
||
|
Nanchang |
2,600 |
387 |
↓20 |
||
|
Anyang |
2,435 |
363 |
↓60 |
||
|
Jinan |
2,680 |
399 |
↓70 |
||
|
Average |
2,619 |
390 |
↓45 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.71