Local Chinese steel scrap prices mostly move sideways

Tuesday, 14 November 2017 15:20:00 (GMT+3)   |   Shanghai
       

During the week ending November 14, steel scrap prices in the Chinese market have mostly remained stable, though increasing in Handan, Hebei Province. 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, since some steelmakers in Hebei Province increased their scrap consumption, scrap prices in the province have moved upwards. Meanwhile, due to tax inspections, some scrap suppliers in China have reduced their supply, with lower scrap volumes being received by steelmakers. Currently, more and more steelmakers are purchasing higher quality scrap for their steel production. It is thought that scrap prices in China will 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

0

Liupanshui

1,580

238

0

Zhangjiagang

2,210

333

0

Handan

2,020

304

↑60

Nanchang

1,970

297

0

Anyang

1,950

294

0

Jinan

2,110

318

0

Average

1,989

300

↑9

 

All prices are ex-warehouse and include 17 percent VAT.

$1 = RMB 6.64


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