Local Chinese steel scrap market mostly moves in upward direction

Tuesday, 24 April 2018 16:49:42 (GMT+3)   |   Shanghai
       

During the week ending April 24, steel scrap prices in the Chinese domestic market have mostly moved upwards, though seeing declines in Tianjin and Handan, while transaction activity in the overall market has been at low-to-medium levels. Average scrap prices in China’s main markets are presented in the following table. 

During the given week, scrap prices in China have mostly moved upwards, though indicating declines in northern China due to the negative impact of production restrictions in that region on local market sentiment. In the given week, scrap inventory at steelmakers has declined slightly, resulting in stock replenishment, which has helped push up prices. At the same time, rebounds in semi-finished steel and finished steel prices have bolstered scrap prices. It is expected that scrap prices in the Chinese domestic market will likely move upwards in the coming week.

Product Name

Spec.

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

HMS scrap

> 6 mm

Tianjin

2,420

384

↓40

Liupanshui

2,165

343

↑65

Zhangjiagang

2,470

391

0

Handan

2,415

383

↓35

Nanchang

2,430

385

↑25

Anyang

2,280

361

↑20

Jinan

2,410

382

↑95

Average

2,370

376

↑19

 

All prices are ex-warehouse and include 17 percent VAT.
 

$1 = RMB 6.31

 


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