During the week ending August 25, local steel scrap prices in the Chinese market have moved on a stable trend, while transaction activity in the overall market has remained at decent levels. Average scrap prices in China's main markets are presented in the table below.
During the given week, despite the downtrends seen in prices of iron ore and finished steel, scrap prices have moved on a stable trend, mainly due to good demand for scrap amid a slight tightness of supply in the scrap market. Steelmakers have had to keep their scrap purchase prices stable in order to ensure steady supplies. Meanwhile, the slump in the Chinese financial and commodity markets has exerted a negative impact on finished steel prices in China. It is thought that scrap prices in the Chinese domestic market will indicate a slight downtrend in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,430 |
223 |
0 |
Liupanshui |
1,400 |
218 |
0 |
||
Zhangjiagang |
1,440 |
224 |
0 |
||
Handan |
1,400 |
218 |
0 |
||
Nanchang |
1,360 |
212 |
0 |
||
Anyang |
1,400 |
218 |
0 |
||
Jinan |
1,420 |
221 |
0 |
||
Average |
1,407 |
219 |
0 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.42