As of July 9, steel scrap prices in the Chinese domestic market have indicated diverse movements on week-on-week basis, 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.
At the beginning of the given week, iron ore prices indicated sharp rises, exerting a positive impact on finished steel prices, while bolstering scrap prices. However, finished steel prices have since declined later due to a slackening of production restrictions, dragging down scrap prices in turn. Meanwhile, the high temperatures and rainy weather are exerting a negative impact on demand for finished steel and on scrap prices. It is expected that scrap prices in China will fluctuate within a limited range in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,780 |
403 |
↑20 |
|
Liupanshui |
2,645 |
384 |
↑25 |
||
|
Zhangjiagang |
2,745 |
398 |
↓15 |
||
|
Handan |
2,690 |
390 |
↑10 |
||
|
Nanchang |
2,510 |
364 |
0 |
||
|
Anyang |
2,655 |
385 |
↓15 |
||
|
Jinan |
2,760 |
401 |
↓20 |
||
|
Average |
2,684 |
389 |
↑1 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.89