Local Chinese steel scrap prices indicate diverse trends

Tuesday, 09 July 2019 14:23:09 (GMT+3)   |   Shanghai
       

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


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