Local Chinese steel scrap market mostly moves on rising trend

Tuesday, 08 January 2019 17:55:02 (GMT+3)   |   Shanghai
       

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


Similar articles

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News

US iron and steel scrap exports down 12.9 percent in January

26 Mar | Steel News

European scrap prices move up above $385/mt

26 Mar | Scrap & Raw Materials

Wholesale metal scrap sales in Mexico decrease 15.6 percent in January

25 Mar | Steel News