During the week ending May 14, steel scrap prices in the Chinese domestic market have mostly decreased, though remaining stable in Liupanshui and Anyang, 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, the US raised tariffs on Chinese commodities, exerting a negative impact on the Chinese steel and scrap markets. Sentiment in the domestic scrap market is cautious, while sellers have been more willing to sell at lower prices. It is expected that scrap prices in the Chinese domestic market will move down in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,710 |
394 |
↓ 25 |
|
Liupanshui |
2,540 |
369 |
0 |
||
|
Zhangjiagang |
2,690 |
391 |
↓ 20 |
||
|
Handan |
2,610 |
379 |
↓ 20 |
||
|
Nanchang |
2,550 |
371 |
↓ 50 |
||
|
Anyang |
2,550 |
371 |
0 |
||
|
Jinan |
2,700 |
392 |
↓ 60 |
||
|
Average |
2,621 |
381 |
↓ 25 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.88