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