During the week ending June 6, average steel scrap prices in the Chinese market have mostly remained stable, though local steel scrap prices have softened in Liupanshui, Guizhou Province, 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, local traders’ scrap inventories have been at relatively low levels, providing support for the stability of prices. Scrap deliveries to steelmakers have been lower than in the previous period, though supply and demand are still in equilibrium. Lately, domestic finished steel prices have been characterized by a soft trend, exerting a negative pressure on the scrap market. It is expected that scrap prices in the local Chinese market will likely move sideways or indicate a slight downtrend in the coming week.
| Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| HMS scrap | > 6 mm | Tianjin | 1,550 | 228 | 0 |
| Liupanshui | 1,370 | 202 | ↓40 | ||
| Zhangjiagang | 1,670 | 246 | 0 | ||
| Handan | 1,700 | 250 | 0 | ||
| Nanchang | 1,580 | 233 | 0 | ||
| Anyang | 1,490 | 219 | 0 | ||
| Jinan | 1,670 | 246 | 0 | ||
| Average | 1,575 | 232 | ↓6 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.79