During the week ending July 23, 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, Jiangsu-based major Chinese steelmaker Shagang Group has raised its purchase prices for scrap, exerting a positive impact on scrap prices in the domestic spot market. Although semi-finished steel prices have indicated some declines, the scrap market has been barely affected. Steelmakers have concluded purchases for scrap to ensure the continuation of their production activities. Currently, due to the very hot weather in China, demand for finished steel is unlikely to improve. However, scrap output will be at relatively low levels due to strict environmental protection policies. It is thought that scrap prices in the Chinese domestic market will likely edge up slightly in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,825 |
411 |
↑45 |
|
Liupanshui |
2,710 |
394 |
↑65 |
||
|
Zhangjiagang |
2,800 |
407 |
↑40 |
||
|
Handan |
2,780 |
404 |
↑35 |
||
|
Nanchang |
2,565 |
373 |
0 |
||
|
Anyang |
2,710 |
394 |
0 |
||
|
Jinan |
2,840 |
413 |
↑30 |
||
|
Average |
2,747 |
399 |
↑31 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.88