During the week ending August 29, steel scrap prices in the Chinese market have been stable in most regions, though prices in Zhangjiagang have increased, 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, domestic finished steel prices have been fluctuating, while they have rebounded towards the end of the week. Currently, domestic steelmakers have sufficient scrap inventories and so they are unlikely to adjust their scrap purchase prices. It is thought that scrap prices in the Chinese domestic market 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 |
1,785 |
271 |
0 |
|
Liupanshui |
1,510 |
229 |
0 |
||
|
Zhangjiagang |
2,080 |
316 |
↑20 |
||
|
Handan |
1,840 |
279 |
0 |
||
|
Nanchang |
1,810 |
275 |
0 |
||
|
Anyang |
1,720 |
261 |
0 |
||
|
Jinan |
1,970 |
299 |
0 |
||
|
Average |
1,816 |
276 |
↑3 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.59