Local Chinese steel scrap prices mostly move upwards

Tuesday, 24 October 2017 15:32:21 (GMT+3)   |   Shanghai
       

During the week ending October 24, steel scrap prices in the Chinese market have increased in most regions, while remaining stable in Anyang. 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, iron ore-based steel production in China has been limited by environmental protection measures, resulting in increased scrap-based production, thereby providing support for scrap prices. However, demand for finished steel has been slack, thus also negatively affecting demand for scrap. It is thought that scrap prices in the Chinese domestic market will likely move down in the coming week.

 

Product Name

Spec.

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

HMS scrap

> 6 mm

Tianjin

1,940

291

↑10

Liupanshui

1,580

238

↑25

Zhangjiagang

2,180

329

↑100

Handan

1,960

296

↑60

Nanchang

1,910

288

↑30

Anyang

1,855

280

0

Jinan

1,995

301

↑25

Average

1,917

291

↑36

 

All prices are ex-warehouse and include 17 percent VAT.

$1 = RMB 6.63


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