During the week ending October 10, steel scrap prices in the Chinese market have remained stable in most regions, while seeing rises in other regions. 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, since domestic steelmakers consumed their scrap stocks during the long holiday period, they need to replenish their supplies, which provides support for scrap prices. However, inventory levels of finished steel have increased, exerting a negative impact on finished steel prices and also negatively affecting scrap prices. It is thought that scrap prices in the Chinese domestic market will edge up slightly in the coming week with the support of steelmakers’ scrap replenishment activity.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
1,840 |
280 |
↑55 |
|
Liupanshui |
1,555 |
236 |
0 |
||
|
Zhangjiagang |
1,990 |
302 |
↑60 |
||
|
Handan |
1,830 |
278 |
0 |
||
|
Nanchang |
1,840 |
280 |
0 |
||
|
Anyang |
1,795 |
273 |
0 |
||
|
Jinan |
1,970 |
299 |
↑20 |
||
|
Average |
1,831 |
278 |
↑19 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.58