During the week ending November 7, steel scrap prices in the Chinese market have remained stable in a majority of regions in the country, while moving up in Tianjin and Anyang. Transaction activity in the overall market has been at medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, higher quality scrap grades have been in short supply, providing some support for prices of these grades. However, some steelmakers have stated that further upticks in scrap prices are not foreseen. Moreover, demand for scrap in northern China will slacken as of next week due to production cuts imposed for the winter season. It is thought that scrap prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,080 |
313 |
↑120 |
|
Liupanshui |
1,580 |
238 |
0 |
||
|
Zhangjiagang |
2,210 |
333 |
0 |
||
|
Handan |
1,960 |
295 |
0 |
||
|
Nanchang |
1,970 |
297 |
0 |
||
|
Anyang |
1,950 |
294 |
↑95 |
||
|
Jinan |
2,110 |
318 |
0 |
||
|
Average |
1,980 |
298 |
↑31 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.64