During the week ending May 22, steel scrap prices in the Chinese domestic market have mostly moved downwards, though prices in some parts of the country have moved sideways, 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, some domestic steelmakers’ scrap inventories increased and so they have lowered their purchase prices for scrap. Meanwhile, finished steel prices in China have edged down slightly in the given week, exerting a negative impact on scrap prices. Most steelmakers’ scrap stocks are currently sufficient and they are unlikely to increase their purchase prices for scrap in the short term. It is thought that scrap prices in the Chinese domestic market will likely soften in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,530 |
397 |
0 |
|
Liupanshui |
2,150 |
338 |
0 |
||
|
Zhangjiagang |
2,495 |
392 |
↓45 |
||
|
Handan |
2,380 |
374 |
↓60 |
||
|
Nanchang |
2,410 |
378 |
↓20 |
||
|
Anyang |
2,260 |
355 |
0 |
||
|
Jinan |
2,345 |
368 |
↓105 |
||
|
Average |
2,367 |
372 |
↓33 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.37