During the week ending January 29, steel scrap prices in the Chinese domestic market have mostly moved on a decreasing trend, though remaining stable in certain 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, since major steelmakers in China have basically completed replenishment of their scrap stocks, transaction activity in the scrap market has been quiet and price decreases have been seen in most regions. Currently, most market participants have left the market ahead of the Chinese New Year holiday. It is expected that scrap prices in the Chinese domestic market will move on a stable trend in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,810 |
418 |
↓30 |
|
Liupanshui |
2,470 |
367 |
↓50 |
||
|
Zhangjiagang |
2,820 |
419 |
0 |
||
|
Handan |
2,685 |
399 |
0 |
||
|
Nanchang |
2,620 |
389 |
↓25 |
||
|
Anyang |
2,530 |
376 |
↓30 |
||
|
Jinan |
2,680 |
398 |
↓20 |
||
|
Average |
2,659 |
395 |
↓22 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.73