During the week ending August 20, average prices of local steel scrap in the Chinese market have increased in most regions of the country, though remaining stable in Nanchang, 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.
|
Product name |
Specification |
Origin |
Price |
Price |
Weekly change |
Weekly change |
|
HMSscrap |
> 6 mm |
Tianjin |
2,810 |
398.6 |
+30 |
+4.3 |
|
Liupanshui,Guizhou |
2,600 |
368.8 |
+20 |
+2.8 |
||
|
Nanchang,Jiangxi |
2,520 |
357.4 |
0 |
0 |
||
|
Handan,Hebei |
2,745 |
389.4 |
+35 |
+5.0 |
||
|
Anyang,Henan |
2,670 |
378.7 |
+25 |
+3.5 |
||
|
Zhangjiagang,Jiangsu |
2,680 |
380.1 |
+25 |
+3.5 |
||
|
Jinan,Shandong |
2,770 |
392.9 |
+60 |
+8.5 |
||
|
Average |
2,685 |
380.9 |
+28 |
+4.0 |
All prices are ex-warehouse and include 13 percent VAT.
During the given week, average prices of local steel scrap in the Chinese market have moved on a slight uptrend, while transaction activity has been better than in the previous week and is now at medium levels. The rebound in domestic finished steel and ferrous metal futures prices has provided some degree of support for domestic steel scrap prices. However, some steel mills have been temporarily limiting their production due to recent environmental protection measures, and this has preventing scrap prices from recording bigger increases. It is thought that scrap prices in the Chinese domestic market will likely just indicate slight fluctuations in the coming week.
$1 = RMB 7.05