During the week ending March 20, steel scrap prices in the Chinese domestic market have mostly decreased, 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, steelmakers in northern China implemented production cuts due to environmental protection inspections, which resulting in reduced demand for scrap and lower scrap prices. Meanwhile, inventories of scrap on the steelmakers’ side have increased, exerting a negative impact on scrap prices. It is thought that scrap prices in the Chinese domestic market will likely edge down further in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,615 |
413 |
↓60 |
|
Liupanshui |
2,300 |
363 |
↓40 |
||
|
Zhangjiagang |
2,530 |
400 |
↓125 |
||
|
Handan |
2,490 |
393 |
↓110 |
||
|
Nanchang |
2,630 |
415 |
0 |
||
|
Anyang |
2,380 |
376 |
↓95 |
||
|
Jinan |
2,530 |
400 |
↓110 |
||
|
Average |
2,496 |
394 |
↓77 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.33