During the week ending June 13, average steel scrap prices in the Chinese market have mostly remained stable, though local steel scrap prices have indicated uptrend in Zhangjiagang, Jiangsu 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, steel futures prices have increased, providing support for scrap prices. Steelmakers' inventories of scrap have declined and so their demand for scrap has increased. It is thought that scrap prices in the Chinese domestic market will likely edge up 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 | 201 | 0 | ||
Zhangjiagang | 1,700 | 250 | ↑30 | ||
Handan | 1,700 | 250 | 0 | ||
Nanchang | 1,580 | 232 | 0 | ||
Anyang | 1,490 | 219 | 0 | ||
Jinan | 1,670 | 246 | 0 | ||
Average | 1,580 | 232 | ↑4 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.80