Local Chinese steel scrap prices move on diverse trends

Tuesday, 11 June 2019 13:58:08 (GMT+3)   |   Shanghai
       

During the week ending June 11, steel scrap prices in the Chinese domestic market have moved on diverse trends, while transaction activity in the overall market has been at low levels. Average scrap prices in China’s main markets are presented in the following table. 

During the given week, Chinese steelmakers have concluded scrap purchases only in line with their needs, with bearish sentiment prevailing in the scrap market. Scrap inventories held by steelmakers have declined slightly. Meanwhile, iron ore prices have gained support from the big rises seen in iron ore futures prices at Dalian Commodity Exchange (DCE), and this will in turn provide some support for scrap prices. It is expected that scrap prices in the Chinese domestic market will move sideways in the coming week.

Product Name

Spec.

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change

(RMB/mt)

HMS scrap

> 6 mm

Tianjin

2,690

389

0

Liupanshui

2,555

370

↓20

Zhangjiagang

2,670

386

0

Handan

2,630

381

0

Nanchang

2,500

362

↓20

Anyang

2,540

368

↑20

Jinan

2,690

389

↑20

Average

2,611

378

0

 

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

$1 = RMB 6.91


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