During the week ending May 7, steel scrap prices in the Chinese domestic market have mostly moved on a rising trend, though remaining stable in Liupanshui, Nanchang and Anyang, 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, most downstream users have increased their purchase prices in order to replenish their scrap stocks. At the same time, semi-finished steel prices in China have moved upwards and this has also bolstered scrap prices. Meanwhile, the inventories of scrap held by mainstream steelmakers have decreased significantly, which will exert a positive impact on scrap prices. It is expected that scrap prices in the Chinese domestic market will increase in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,735 |
405 |
↑25 |
|
Liupanshui |
2,540 |
376 |
0 |
||
|
Zhangjiagang |
2,710 |
401 |
↑10 |
||
|
Handan |
2,630 |
389 |
↑10 |
||
|
Nanchang |
2,600 |
385 |
0 |
||
|
Anyang |
2,550 |
377 |
0 |
||
|
Jinan |
2,760 |
408 |
↑40 |
||
|
Average |
2,646 |
391 |
↑12 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.76