Local Chinese steel scrap prices mostly move sideways

Tuesday, 30 July 2019 14:23:36 (GMT+3)   |   Shanghai
       

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 


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