During the week ending April 30, steel scrap prices in the Chinese domestic market have mostly moved on a stable trend, though indicating rises in Handan, Anyang and Jinan, while transaction activity in the overall market has been at medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, steelmakers have replenished scrap stocks ahead of the Labor Day holiday (May 1-4), providing support for scrap prices. Inventories of scrap held by mainstream steelmakers have risen slightly, but this is not expected to be a significant problem as scrap supply to the market will decline during the holiday. As for the coming week, it is expected that scrap prices in the Chinese domestic market will move sideways and will edge up after the holiday.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,710 |
402 |
0 |
|
Liupanshui |
2,540 |
377 |
0 |
||
|
Zhangjiagang |
2,700 |
401 |
0 |
||
|
Handan |
2,620 |
389 |
↑5 |
||
|
Nanchang |
2,600 |
386 |
0 |
||
|
Anyang |
2,550 |
378 |
↑40 |
||
|
Jinan |
2,720 |
404 |
↑10 |
||
|
Average |
2,634 |
391 |
↑8 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.74