During the week ending December 12, steel scrap prices in most regions of Chinese market have moved sideways, while 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.
Amid restrictions on outputs of blast furnaces due to environmental measures, Chinese steelmakers' demand for scrap has increased, providing support for scrap prices. Lately, however, rebar and wire rod prices in China have softened slightly, resulting in downward pressure on scrap prices. However, most traders are unwilling to sell scrap at lower prices, while most steelmakers plan to replenish their scrap inventories for the winter season. In this overall context, scrap prices have mostly moved on a stable trend in the past week and it is thought that they will continue to move sideways in the week ahead.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
2,430 |
367 |
0 |
Liupanshui |
1,990 |
301 |
↑120 |
||
Zhangjiagang |
2,440 |
369 |
0 |
||
Handan |
2,250 |
340 |
0 |
||
Nanchang |
2,190 |
331 |
0 |
||
Anyang |
2,275 |
344 |
0 |
||
Jinan |
2,300 |
347 |
0 |
||
Average |
2,251 |
340 |
↑17 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.62