Local Chinese steel scrap market moves on a rising trend

Tuesday, 09 April 2019 16:33:31 (GMT+3)   |   Shanghai
       

During the week ending April 9, steel scrap prices in the Chinese domestic market have switched to an increasing trend, 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, rebar futures prices at Shanghai Futures Exchange (SHFE) have moved up sharply, helping to push up semi-finished steel and finished steel prices in China, thereby exerting a positive impact on the scrap market. Demand for scrap has improved, while steelmakers have raised their scrap purchase prices slightly as they seek to build up stocks. It is expected that scrap prices in the Chinese domestic market will move upwards in the coming week. 

Product Name

Spec.

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change

(RMB/mt)

HMS scrap

> 6 mm

Tianjin

2,700

402

↑60

Liupanshui

2,530

377

↑40

Zhangjiagang

2,670

398

↑40

Handan

2,650

395

↑70

Nanchang

2,540

379

↑30

Anyang

2,460

367

↑110

Jinan

2,670

398

↑70

Average

2,603

388

↑60

 

All prices are ex-warehouse and include 13 percent VAT.

$1 = RMB 6.71


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