During the week ending February 19, steel scrap prices in the Chinese domestic market have mostly moved on a stable trend, though rising in Tianjin and Jinan, while transaction activity in the overall market has been at low levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, due to no improvement in demand, rebar futures prices at Shanghai Futures Exchange have decreased steadily following the rapid rises seen immediately following the Chinese New Year holiday, with these decreases negatively influencing the local scrap market. However, most players in the scrap market are still optimistic regarding the future prospects for the market trend. Demand will likely improve after the Lantern Festival (February 19), which would exert a positive impact on scrap prices. It is expected that scrap prices in the Chinese domestic market will rise slightly in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,850 |
421 |
↑40 |
|
Liupanshui |
2,470 |
365 |
0 |
||
|
Zhangjiagang |
2,830 |
418 |
0 |
||
|
Handan |
2,720 |
402 |
0 |
||
|
Nanchang |
2,620 |
387 |
0 |
||
|
Anyang |
2,530 |
374 |
0 |
||
|
Jinan |
2,785 |
411 |
↑75 |
||
|
Average |
2,686 |
397 |
↑16 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.77