During the week ending September 11, 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, scrap prices in the Chinese domestic market have moved on a rising trend as major Chinese steelmaker Shagang Group has increased its scrap purchase prices. Meanwhile, news relating to the implementation of steel production cuts has also exerted a positive impact on the scrap market. It is expected that scrap prices in the Chinese domestic market will increase in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,810 |
410 |
↑50 |
|
Liupanshui |
2,610 |
380 |
↑115 |
||
|
Zhangjiagang |
2,770 |
404 |
↑35 |
||
|
Handan |
2,615 |
381 |
↑35 |
||
|
Nanchang |
2,870 |
418 |
↑145 |
||
|
Anyang |
2,470 |
360 |
↑60 |
||
|
Jinan |
2,655 |
387 |
↑65 |
||
|
Average |
2,686 |
392 |
↑72 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.86