Local Chinese steel scrap market moves on a rising trend

Tuesday, 18 December 2018 14:44:28 (GMT+3)   |   Shanghai
       

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 


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