Local Chinese steel scrap prices mostly move sideways

Tuesday, 12 December 2017 14:56:29 (GMT+3)   |   Shanghai
       

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


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