During the week ending August 22, steel scrap prices in the Chinese market have been stable in most regions, though prices in Liupanshui and Jinan 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, sentiment among players in the scrap market has been boosted by the elimination of low-grade construction steel capacity and environmental inspections. At the same time, domestic steelmakers’ scrap purchase volumes are at relatively high levels, but are unlikely to increase further. Given the upward movement of finished steel prices in the Chinese domestic market, local scrap prices are expected to move on a rising trend in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
1,785 |
268 |
0 |
|
Liupanshui |
1,510 |
227 |
↑25 |
||
|
Zhangjiagang |
2,060 |
309 |
0 |
||
|
Handan |
1,840 |
276 |
0 |
||
|
Nanchang |
1,810 |
272 |
0 |
||
|
Anyang |
1,720 |
258 |
0 |
||
|
Jinan |
1,970 |
296 |
↑50 |
||
|
Average |
1,814 |
272 |
↑11 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.66