As of March 13, steel scrap prices in the Chinese domestic market have mostly decreased week on week, 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, steel scrap prices in China first moved up while declining later in the week, with average prices now lower compared to one week ago. Demand has not improved significantly, exerting a negative impact on scrap prices. Meanwhile, ferrous metal futures prices in China have decreased, also negatively influencing the scrap price trend. It is thought that steel scrap prices in the Chinese domestic market will edge down in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,675 |
423 |
↓175 |
|
Liupanshui |
2,340 |
370 |
0 |
||
|
Zhangjiagang |
2,655 |
420 |
↓115 |
||
|
Handan |
2,600 |
411 |
↓120 |
||
|
Nanchang |
2,630 |
416 |
0 |
||
|
Anyang |
2,475 |
392 |
↓125 |
||
|
Jinan |
2,640 |
418 |
0 |
||
|
Average |
2,574 |
407 |
↓76 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.32