During the week ending June 27, steel scrap prices in the Chinese market have mostly indicated an upward 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, new supplies arriving in the scrap market have been limited due to the rainy weather conditions in China. At the same time, iron ore futures prices in China have increased, providing support for scrap prices. It is thought that scrap prices in the Chinese domestic market will likely move sideways in the coming week.
Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
HMS scrap | > 6 mm | Tianjin | 1,610 | 236 | ↑60 |
Liupanshui | 1,370 | 201 | 0 | ||
Zhangjiagang | 1,810 | 265 | ↑40 | ||
Handan | 1,760 | 258 | ↑60 | ||
Nanchang | 1,580 | 231 | 0 | ||
Anyang | 1,560 | 228 | ↑20 | ||
Jinan | 1,750 | 256 | ↑20 | ||
Average | 1,634 | 239 | ↑29 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.83