During the week ending January 15, steel scrap prices in the Chinese domestic market have mostly moved on a rising trend, though remaining stable 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, there have been few scrap supplies arriving at domestic steelmakers due to tight supply, resulting in the rises seen in some scrap prices. Meanwhile, rainy and snowy weather conditions have negatively affected the circulation of scrap supplies, and this has provided further support for scrap prices. However, demand has not indicated any significant improvement. It is expected that scrap prices in the Chinese domestic market will move sideways in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,770 |
410 |
↑30 |
|
Liupanshui |
2,520 |
373 |
0 |
||
|
Zhangjiagang |
2,820 |
417 |
↑95 |
||
|
Handan |
2,630 |
389 |
↑40 |
||
|
Nanchang |
2,645 |
391 |
0 |
||
|
Anyang |
2,505 |
371 |
0 |
||
|
Jinan |
2,700 |
399 |
↑30 |
||
|
Average |
2,656 |
393 |
↑28 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.76