During the week ending January 8, steel scrap prices in the Chinese domestic market have mostly moved on a rising trend, though softening in some regions, 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, suppliers in the domestic scrap market have been unwilling to sell due to the cold weather and the approach of the Chinese New Year holiday (February 2-10). Scrap supplies arriving at steelmakers are fewer, which will likely result in more purchases of scrap in the future. It is expected that scrap prices in the Chinese domestic market will likely edge up slightly in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (24.12.2018) (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
2,740 |
399 |
↑60 |
Liupanshui |
2,520 |
367 |
↓30 |
||
Zhangjiagang |
2,725 |
397 |
↓15 |
||
Handan |
2,590 |
378 |
↑20 |
||
Nanchang |
2,645 |
386 |
↑35 |
||
Anyang |
2,505 |
365 |
↓55 |
||
Jinan |
2,670 |
389 |
↑10 |
||
Average |
2,628 |
383 |
↑4 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.86