During the week ending June 19, steel scrap prices in the Chinese domestic market have mostly moved up, though remaining stable in Tianjin, Nanchang and Anyang, 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, domestic finished steel prices have continued to rise, exerting a positive impact on scrap prices. Some steelmakers with low scrap inventories increased their purchase prices for scrap. Strict environmental protection requirements have increased the cost of operating blast furnaces and so steelmakers have been more eager to use scrap. It is thought that scrap prices in the Chinese domestic market will likely edge up further in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,495 |
385 |
0 |
|
Liupanshui |
2,160 |
333 |
↑40 |
||
|
Zhangjiagang |
2,450 |
378 |
↑15 |
||
|
Handan |
2,450 |
378 |
↑40 |
||
|
Nanchang |
2,490 |
384 |
0 |
||
|
Anyang |
2,270 |
350 |
0 |
||
|
Jinan |
2,410 |
372 |
↑65 |
||
|
Average |
2,389 |
369 |
↑23 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.48