As of July 30, steel scrap prices in the Chinese domestic market have mostly moved on a stable trend week on week, though with upticks seen in Tianjin, Nanchang and Zhangjiagang, 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, heavy rain amid high temperatures in China have negatively affected the processing and transportation of scrap, resulting in fewer scrap supplies arriving in the market, bolstering scrap prices to some extent. However, finished steel prices and ferrous metal futures prices have softened, negatively affecting the scrap market. It is thought that scrap prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,850 |
414 |
↑25 |
|
Liupanshui |
2,710 |
394 |
0 |
||
|
Zhangjiagang |
2,840 |
413 |
↑40 |
||
|
Handan |
2,780 |
404 |
0 |
||
|
Nanchang |
2,590 |
376 |
↑25 |
||
|
Anyang |
2,710 |
394 |
0 |
||
|
Jinan |
2,840 |
413 |
0 |
||
|
Average |
2,760 |
401 |
↑13 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.88