During the week ending July 16, steel scrap prices in the Chinese domestic market have mostly moved on a rising trend, 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, semi-finished steel prices in China have moved up slightly, providing some support for the domestic scrap market. Traders in the scrap market have been seeking to raise their offer prices and have been unwilling to sell at lower prices. Currently, there are some shortages in scrap supply, which will exert a positive impact on prices in the scrap market. It is expected that scrap prices in the Chinese domestic market 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 |
405 |
0 |
|
Liupanshui |
2,645 |
385 |
0 |
||
|
Zhangjiagang |
2,760 |
402 |
↑15 |
||
|
Handan |
2,745 |
400 |
↑55 |
||
|
Nanchang |
2,565 |
373 |
↑55 |
||
|
Anyang |
2,710 |
394 |
↑55 |
||
|
Jinan |
2,810 |
409 |
↑50 |
||
|
Average |
2,716 |
395 |
↑33 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.87