Local Chinese steel scrap prices mostly soften, some remain stable

Tuesday, 06 August 2019 13:53:52 (GMT+3)   |   Shanghai
       

During the week ending August 6, steel scrap prices in the Chinese domestic market have edged down in a majority of regions, though remaining stable in some other regions, 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, scrap prices in China have softened in a majority of regions in the country due to the impact of environmental protection measures and very hot weather conditions. Meanwhile, iron ore prices and domestic finished steel prices have decreased, also exerting a negative impact on the scrap market. It is expected that scrap prices in the Chinese domestic market will soften in the coming week.

Product Name

Spec.

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change

(RMB/mt)

HMS scrap

> 6 mm

Tianjin

2,810

399

↓40

Liupanshui

2,660

378

↓50

Zhangjiagang

2,790

396

↓50

Handan

2,780

395

0

Nanchang

2590

368

0

Anyang

2,720

386

↑10

Jinan

2,840

403

0

Average

2,741

389

↓19

 

All prices are ex-warehouse and include 13 percent VAT. 

$1 = RMB 7.04 


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