During the week ending December 18, steel scrap prices in the Chinese domestic market have moved on a rising trend, 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, downstream steelmakers’ demand for scrap has been steady since they still make profit from their products. As it gets colder and colder in China, scrap supply has tightened to some extent, resulting in slower supply flow to the spot market and increasing scrap prices. However, scrap demand in China will be slack due to planned production halts on steelmakers’ side. It is expected that domestic scrap prices in China will move sideways in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
2,670 |
387 |
↑180 |
Liupanshui |
2,440 |
354 |
↑120 |
||
Zhangjiagang |
2,700 |
391 |
↑90 |
||
Handan |
2,570 |
372 |
↑90 |
||
Nanchang |
2,480 |
359 |
↑60 |
||
Anyang |
2,550 |
370 |
↑125 |
||
Jinan |
2,690 |
390 |
↑160 |
||
Average |
2,586 |
375 |
↑118 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.90